I agree with both sides, because I'm basically split. I can see bullishness on short term, but bearishness on long term.
In these situations, I urge individuals to try 'zooming out'.
Personally, I think we're in a large Symmetrical Triangle. With that pattern at play and the Weekly StochRSI being overbought, I think we'll come down to test support one more time. Due to this, I've simplified things by setting a rule:
Short the upper-half.
Long the lower-half
I'm sure many of you have heard people say something along the lines of "it's not about getting the best position possible, but rather how you apply risk management". I think this is true. In this situation, if Bitcoin goes up, cool... w/e. I'm in a 2x with 7500 liquidation.
I don't see it breaking upper resistance, without testing the bottom support 1st. Whether the symmetrical triangle breaks in either direction is unknown. However, the goal is to Buy Low, Sell High.
I simplified this to "Long the lower half, Short the upper half."4/4