Looking at the weekly it seems BTC is still in retracement of the first wave up since the bearmarket.
There is room for a further decline towards the $5.600, but this not required.
In a nutshell, for long term portfolio an ok moment to buy. Alternative is to level in, 20% now, 20% at 6.5k or 8.1k (what comes first) and the rest at 6k or 9k.
Reason to buy: a strong 3rd wave upwards is to be expected based on this count after this retracement.