Now before I begin, two things. One, I am not a legal financial advisor or consultant, everything shown here is strictly for learning purposes and is of my own opinion. Please do your own research and due diligence and never take any one persons words as 100% truth. Two, no BTC is not in a bull market in my opinion. Fomo during this 4 month long bear market has lead to any minor uptick causing crypto fans to believe there is a bull market, not the case. Most crypto has lost some where around 50% of it's high (most, not all) and I can see more downside risk to come. THIS DOES NOT MEAN IT WILL GO STRAIGHT DOWN. I wish Tradingview had RRG charts because I do sector rotation analysis as well and let me tell you, while BTC has just stepped into the real danger zone, there is a bright side to it all. I feel that maybe one or two more downside moves will happen before a reversal in BTC trend. When that happens, there is going to be so much room to the upside you would be dumb not to just sit, wait and watch for that reversal. I invest longer term, I add as needed. This would be a very smart play in my opinion. We all don't like picking tops and bottoms but what is a reversal in the trend if not exactly that? Just saying.
It's all I see on higher time frames. Don't see how so many are longing at this point. It is in a beautiful sideways channel with defined ranges until it breaks top or bottom the only profit is in between. Overall trend is still down, in my opinion. Until that changes I stick to the channel playing the top and bottom with a hedge position to keep cover in case it does reverse.