If BTC doesn't wick much below $16892 at it's worst, it would form a tremendous bullish divergence. There is already a minor divergence at play, however - I don't think it to be statistically sound enough to cause a reversal. However, if the down trend continues over the next couple days, this would directly incite a very strong bullish divergence. This would be direct confirmation of BTC holding above the daily 50 EMA as-well-as trading above all previous price celling except ATH. This would put BTC in a very technically favorable position to continue accumulating wealth steadily into 2021.
To hedge against BTC being overly bullish over a currently insignificant signal - a small long position above $18620 to $186750 is present if there seems to be enough momentum to break the downtrend - this is risky but it's worth it, nothing will suck more than missing the 20k breakthrough.
To hedge against BTC being overly bullish over a currently insignificant signal - a small long position above $18620 to $186750 is present if there seems to be enough momentum to break the downtrend - this is risky but it's worth it, nothing will suck more than missing the 20k breakthrough.