BTC managed to bounce from the $39200 low. This 12 hour chart shows possibility of another 3 to 5% decline in BTC price to touch the lower bottom trendline support. Although 38k is an important support for BTC BTC might wick down to $37200 only if it breaks the recent low of $39200. So $37200 is $39200 is a good range to long on low leverage or buy on spot. Losing this channel on the lower trendline will be a red flag for this rally. Bears will take over in case BTC breaks this channel./
So right now it's important to be extra cautious to preserve your funds.
Conclusion:- As per TOTAL and TOATAL2 Chart Market should pump in the coming days keeping in mind a possibility of new low below $39200.
That's a great idea. I am of the same opinion and will be taking a long from 38k. Part of it I plan to close in mid-channel ~44k And the rest of it, which is about 30%, I'm going to hold till 48k. Then I will watch if there will be a breakthrough and exit the channel.