Note that there is a slight reversal potential here and the problem with triangles during correction. We are either going up on an upwards wave in that triangle to complete the B(higher) wave or we are done and am actually midway in C(higher) wave down. Triangle has ABCDE which we are done with and finishing D now before starting E. But B wave only has , 3 waves count before we go down in 12345 pattern. We only assume it was a triangle because it kept hugging a support line and dragging out the timeline. But frankly speaking, this is a interesting turning point where playing patterns will likely kill you. Which is why I recommend going by momentum right now, in an earlier idea where i said it was clearly going downhill. (After getting annoyed by people claiming $13.5k was bottom)
As we know more, I will update with new ideas and try to better isolate the bottom. (Bit lazy though, not sure if these ideas even helps anyone) For now, my recommendation is to watch out for the bull traps and still play short in this downwards trend. This looks like a post manipulation market to me, so I don't really see anymore bulls recuse mission. Likely going to be a sharp fall once people realize that 10k bottom is not real, so going long is suicidal here, unless you wanna hedge. Good luck and take care!
That's my plan at least. Disclaimer, I already short at $14.1k after closing a previous short from $13.6k.
This falling should be similar to the one on Dec 21st, so excited to see liquidation happen for the longs. If you already taken your short, grats. Remember to move stop losses down to lock in profit.
At this point I think market panic has taken over and we will see some interesting behavior like indicators hugging the bottom oversold region as we plunges downwards more.
Manage your shorts and take care!