We are in a major channel downwards with a smaller channel downwards within it. In order for BTC to even stand a chance to become ultra-relevant again we need a major breakout from this channel.
Unless we get a period of price stability, we are looking to continue the trend downwards. In case the price reaches a state of stability, there would be a chance for BTC to rally back up to the roof of the minor channel. If we were to see a clear breakout from that channel and possibly an alt coin follow-up, we are looking at hitting the top of the major channel's roof. If price breaks out from that larger channel, there is definitely a good chance to go long, but as of now, shorting or remaining indecisive is most likely your best bet.
Regards.
Unless we get a period of price stability, we are looking to continue the trend downwards. In case the price reaches a state of stability, there would be a chance for BTC to rally back up to the roof of the minor channel. If we were to see a clear breakout from that channel and possibly an alt coin follow-up, we are looking at hitting the top of the major channel's roof. If price breaks out from that larger channel, there is definitely a good chance to go long, but as of now, shorting or remaining indecisive is most likely your best bet.
Regards.