Looking at a of BTC we see a bounce every single time dips below 20. While history doesn't repeat itself, it does imitate itself, and since we are also seeing other oversold signals as well as a massive spike and , it's a reasonable assumption we have found bottom. We may slip a bit, but now is the time to re-enter the market long-term. Think 1 year from now.
Finally, the SEC notes from yesterday were extremely positive. Watch this senate hearing live, and you may be pleasantly surprised in 24 hours!
I still believe alt-coins are where the majority of profit lies, and will be allocating my portfolio appropriately. However, I've learned my lesson - follow the king. And the king is about to rise.
Strategy: Long-term entry into market for remainder of year, while focusing on alt-coins for profit and increasing BTC stack
Basis: oversold on daily, at supporting , massive spike, candle.
Entry: half this morning, re-enter fully after senate hearing.
The primary support level is in the $7,800-8,200 range. If we break this support then the long-term bear trend is not broken and it would be advisable to close your long positions until we get some more bullish movement.