When to look for longs on Bitcoin?

There are a lot of people 'short-term bearish' but 'long-term' bullish. This means that a lot people expect further downside before the market moves up again. How do you know when we have the reversal to the 'long-term' bullish phase? This is an easy answer, look at the price action. How to read the price action then I hear you ask, valid question. Look at the swings in the price: we make a low, we create a high, we create a low that is lower than the previous low and a high that is lower than the previous high. This means we are in a clear downtrend. Now you see the making a higher high than the previous high, which is gained by closing a full body above the previous high preferably on a high timeframe. Now there are two options, you wait until we create a lower low, and wait on a higher high to long a pullback or you can take somewhat higher risk and look for a long after the gain.

What does this mean for Bitcoin?
We have been creating lower highs and lower lows. We have determined that we are in a downtrend, so we look for shorts. Once we create a higher high above the previous high, I look for pullback plays. One thing the price has to do is opening and closing above the important white line on the chart. Then we can look for a pullback to enter a long, I do this with a Fibonacci, trendline and horizontal levels where I look for confluence. For example on the chart there is confluence with a fib level (0.618), the trendline and a horizontal support. If this happens then I will enter a long with the stoploss under the previous low. If this does not happen we chance the plan following the steps above to look for another reversal in later time.