Are you ready about this one ?
I assume the candle stick time frame is daily, my understanding is :
1. Now the candle stick is in strong support for uptrend, previously support was touched at around 7000 USD and now seems at 8000 USD.
2. During touching 7000 USD, it was formed doji star that usually as indicators for reversal from a trend even some also see it as unsure.
3. The resistance 1 will be at 12.000 USD during reversal, it can be return to down or continue uptrend if the resistance 1 is broken.
4. There is possibility also the price continue its downtrend but will be touched at around 5000 USD.
My suggestion: If price continue its downtrend, we should leave the market at 7000 USD and see at 5000 USD whether broken or reverse. If reversing, get ready to buy.
I think it is hard to see the price increase in a short-time because if we see the chart, the downtrend will continue and maybe it's attracted more people to become panic. but I hope that the price is not down to $5k and only stay at $6k-$7k for a while so we can see the altcoin is started to moves up. but bitcoin price could be down for more and it's possible to see this and only the times will answer so we could prepare for the bad things that might happen later.