Since the 2 Month timeframe trend is up, I'm biased towards going long for the longer term, but in the short to intermediate term I see risk in being positioned. I'm currently hedged, and waiting to cover shorts lower to buy back spot Bitcoin positions and add margin longs once more.
The current trend I expect to last for 14 more months. Targets are 40k, 245-277k. Something between those prices is the most likely scenario. This will remain being valid for as long as we don't go back below 6481, and between now and the end of the forecasted time period.
Naturally the closer you can buy to the invalidation, the bigger the reward to risk ratio. I've been long from 3900, and gotten in and out many times since then, although sadly I had too much exposure to ethereum at times which reduced my performance relative to holding #BTC significantly until now.
But, since ETH hit $335 I've been out of it and bought back #BTCUSD at 11278 average cost basis (was long from 11610 and hedged when it failed to hold support, covered the hedge at 9760).
I expect price to consolidate sideways for the most part, but it's probably not going any lower than it already did since the top at 13880.