The downward trend is weakening and BTC
tested and appears to be holding at the 14k support level
. Oversold RSI
level also suggests a possible bullish trend
. If D+ crosses D- on the DMI chart we'll get a confirmation of upward momentum and we'll be looking at the $16.5k as the resistance. If we break $16.5k level, next target is 19.5k followed by 23k. I am personally waiting for a clear upward shift in the RSI
chart and breach of 16.5k before re-entering BTC
for a long trade.
Disclaimer: I am fairly new to TA so please take this with a grain of salt and feel free to share thoughts / suggestions