If you read through my post BTCUSD - 5 reasons I'm calling a reversal now you will see that my aim is to buy back into what could be a reversal to bull market but do it with what I call localised trades which would still allow me to exit at a profit if the reversal falters.
I will buy on a backed breakout to the top side and potentially sell on the same to the bottom side. However, because of the relative localised resistance and support, the targets are quite close, making the risk ratio tight. I therefore want to see another phase of accumulation before I would enter this. That will narrow the entry-stop gap and provide a higher risk reward. i.e. if we break on this current phase up, I will not enter.
Target / Exit
Buy target: Just below the resistance at 9500, which also is supported by 0.5 fib of the 5th bear wave and is the bottom of wave 3.
Sell target: The bottom of this triangle, which is supported by the 0.382 of the last leg the 5th bear wave.
In both cases I would be looking to hold my position unless I see significant resistance at these areas. In that case I would look to either take some or all profit.
Buy: Below the triangle
Sell: Above the triangle
p.s. when I say short/sell I am talking about selling coins I bought at the bottom of this correction.
p.s. You'll note that some other coins like ETH also attempted to break and got a bit further but are now being pulled back by BTC.