There are different ways of analyzing a btc chart and platforms for this . I preferably use the trading view app and I will be taking us on a tour through a top down analysis of btc chart . I am a market structure trader so I trade break of market structure to identify change in market direction . I also prefer trading trends than range so I love something movements .

Steps

1.We open up our chart and start from the monthly time frame

2.Identify the support and resistance in this timeframe and here we can only Find a support identified Below

3.We move to the weekly timeframe to identify more support and resistance

4.You move to the daily timeframe where we can see a range and we identify the resistance above and if price breaks the identified resistance we can say that there is a change in market structure and we expect price to move up

5.We now move to the 4 hour time frame we see a down trend which we can identify with a downtrend line which when broke we can say there is a temporal break of market structure but the above resistance from daily timeframe remains our main point which when broken and retested we can we are out of the done trend

Conclusion

Personally , I feel that buying btc to hold now should not be part of the ideal but if you wish to catch quick profits trade small trend changes in futures but untill the resistance is broken , we can’t say we are out of a btc downtrend
Thank you for listening
@tht
@steemcurator01