As you can see from the Dominant candle, BTC found some very solid support at $8000. That is no surprise given there is some historical support there and given some of the tips floating around here and the broader investment community.
I still think the signals a very mixed there are and signs all over the place. BTC is still in a down trend phase but the difficulty is determining when it will break. I can see 2 symmetrical triangle and 2 . The inner 2 are nearing completion. The trick will be to see which way they move at completion of each of the inner 2. If they all both move up and there's some more good signals then I'm likely buying in. I don't want to go against the momentum of the market just yet.
As for the outer two triangle, I will use them to give me some targets and a stop loss should BTC break out of the inner two. But it does mean that BTC may not be out of the woods for some time yet.
The short answer is I'm still waiting to buy-in and I'm not sure the down trend has completed.
I was trying to look for an upside in this idea, but ended up remaining neutral. There are small signs of an upside but, in truth, there is just as much if not more down side signs.
If BTC falls below the $8000 then it has a lot further to go. However, I still believe that there's a chance it may break upwards from the inner triangle. If it does so with some volume then we may see a recovery.
Still, all in all I'm neutral tending bearish. If I were going to buy in I'd be setting tight stop-losses. I'm not brave enough to short it either.