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On a , BTCUSD has been forming a big since Jun'19 and now BTC is at a pivotal point as can be seen in the chart above. It is touching mid-range of the channel which is also confluent with the big as highlighted in red.
Also, to support this idea, is also at a resistance point (Yellow line) and is already pointing downwards. Very simple yet very strong indication that we will be having a move downwards to the bottom of the channel. Bitcoin halving event is around 13th May'2020 (as highlighted in chart) and i expect this downward move to be completed before the halving, hence BTC is going to likely make a bottom (touch the bottom of the channel) at around ~4000$ levels which i believe should be good area to buy BTC for long-term.
Historically, BTC price has always increased after the halving and i expect the same to happen this time as well.
ALL THE VERY BEST and hope this idea has helped you to gain some clarity.
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