Note: I define trend on a specific timescale as something like this: Monthly Trend Bullish= price will be higher in 2-10 months.
Bitcoin Yearly Trend: Strong Uptrend
Reason: We're in Wave IV circle, one big Wave V to go.
Bitcoin Monthly Trend: Strong Downtrend
Reason: Wave IV is not finished yet, I forecast the lowest point would be between 2000-4000 USD.
Bitcoin Weekly Trend: Strong Downtrend
Reason: BTC has bounced from this key , which could be interpreted as Wave 2 of the larger Wave (3) of the larger Wave C, next major resistance is 7000-7300.
Bitcoin Daily Trend: Weak Short-term Uptrend/ Retracement from 5000-6000
Reason: BTC has broken up from the recent daily downtrend, therefore I think it's not the best time to short right now. Traders should patiently wait for day chart weakness/rejection from major resistance before any trend following shorting .
On day chart, BTC is consolidating around the of the top of previous . Maybe it could go up to the 2.618 extension around 7200-7300.