This could be the bottom of a formation.
There are two slopes converging forming a .
Plan: Long now at 6500. Take profit at 6900.
Stop under previous spike low.
Remember the the pattern can still be valid and have a further spike low. As stated previously this could be to USD 3000.
However sentiment for crypto is now terrible.
The double descending line has been resistance since February and we have seen strong reactions down five times.
I have drawn three possibilities. I think that the middle one is most likely.
So my ideal trade would be long for USD 400. Then reenter long only if the double line becomes support.
If is becomes resistance then go short.
I expect a resolution of the by September 20
Since volume is low there could be a fake breakout followed by a correction in the other direction