Bounce off the channel?

kylevd23 Updated   
Not financial advise. Looking at a possible bounce off this channel that's been going since December. However, currently I would wait to see how today's candle plays out. Right now, the big red bar could indicate further drop, and any drop below the channel will definitely indicate further decline to possible 44k range possibly. But hoping this sticks, and it can find it's way back up in the channel and continue moving further. I will probably hold off on buying and preserving capital until I see a clear indication that it will remain in this channel. I am glad though that the drop was quick, gave a good bounce back up, but needs to hold. As always HODL but preserve capital is my number one rule for myself.
Watch for the daily close, if we close around 55000 and it leaves the week, then the daily found its support around at the 55 which would leave me to believe the shakeout at the bottom was to test the channel, but support is intact, and the next daily candle should indicate further movement up, but let's see...

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