Hello,
Bitcoin is forming a falling wedge which historically was followed by a sharp spike at the end.
This is supported by Oscillators that are showing a bullish divergence against falling price, if this analysis is true then we should expect a run towards weekly highs of $8800.
As to the timing for opening a long position, it is a good idea to wait until Bollinger Bands contract and see which direction the price goes as it can still go downwards one more time before a rise.
Bitcoin is forming a falling wedge which historically was followed by a sharp spike at the end.
This is supported by Oscillators that are showing a bullish divergence against falling price, if this analysis is true then we should expect a run towards weekly highs of $8800.
As to the timing for opening a long position, it is a good idea to wait until Bollinger Bands contract and see which direction the price goes as it can still go downwards one more time before a rise.