Currently, Bitcoin is moving in a range of $30000 ~ $65000. The movement is divided roughly into two semi-annual cycles from where the price moves from trough to peak and vice versa. The price is currently in a downtrend and moving within a bearish flag strcuture, which was formed after the price has dropped to a low of $33000 from the peak area of $65000. The price is currently at the bottom of the bearish flag and could either potentially move up to the upper area of $52000 or break down to test the bottom of the range. Personally, I think that the price can still drop at least to the area of $33000 to fill the gap (yearly low of 2022) created in late January as the price is still moving within a bearish structure and lows can be tested again. My main buy limit orders are set at the bottom of the range ($30000 area). However, yesterday, we saw a bullish engulfing pattern which was formed in the daily time frame. Therefore, if we continue to see a bullish price movement today, my plan is to enter a small long with a target of $52000.