Currently testing resistance at $55. If breaks through it will go up to test ATH and either break through or be rejected (durr!). Currently in a no buy zone for that reason. Possible buy opportunity (top orange channel) if it breaks above the ATH resistance and retests as support after the candle closes. If it is rejected at ATH, that would form a double top and head back down to test support levels and trend line (re-assess buying opportunities). A bounce off of the support/trend line would be a good sign for a potential bull run. Or conversely, if it breaks, the bears would take control once market structure makes a new LL and LH.
If it is rejected at current resistance level. The the next buy opportunity (lower orange channel) could present itself if it falls down to create a new HL either off the yr 2000 ATH support, off 38.2% fibs (top of orange channel), or off of the new trend line. You could have staggered buy orders at the top and bottom of the orange channel. And ideally you would have your stop loss below previous structure once the new HL reveals its self (green txt).
If it is rejected at current resistance level. The the next buy opportunity (lower orange channel) could present itself if it falls down to create a new HL either off the yr 2000 ATH support, off 38.2% fibs (top of orange channel), or off of the new trend line. You could have staggered buy orders at the top and bottom of the orange channel. And ideally you would have your stop loss below previous structure once the new HL reveals its self (green txt).