While people saying BTC is now in Uptrend for long term; but for me, BTC is in downtrend for middle term.
BTC is decreasing from high of this year @ 14k. you can see in the below 8hr chart.
Peak 1: BTC reached $14K and start decreasing to peak 2.
Peak 2: BTC was set at $13K then down to peak 3.
Peak 3: BTC was set at $12K then now it has formed the peak 4.
Peak 4: BTC decreased to $11K. Teachnically speaking, i guess BTC will retest the support @ $9k5 then forming Peak 5: @$10K
Case 1: if BTC breaks peak 5 @$10K - Downtrend line, i will cancel the opinion that BTC in downtrend.
Case 2: If BTC can not break downtrend line or Peak 5, we will see it at $9k, $8k4, $7K6