I've been patiently waiting for BTC's price to reach this area for awhile now, this is the first prime buying opportunity since the bounce from 3k in mid-September. As you can see on the chart the best low-risk buying opportunities in 2017 have come from the bottom of that cyan ascending trend-channel, and price has once again reached that zone almost five months later and this time with a lot of confluence.Bottom of the 2017 ascending channel (cyan)Bottom of the recent bearish price channel (red)Support from the 200 day simple moving average This is also the 61% retracement level on the yearly swing high to lowI do not recommend jumping in all at once. Although price is entering a prime buying zone, there are no guarantees in the market, there are only probabilities. The best course of action in my opinion is to dollar cost average to build up a position. Split your capital up and average your way in from now to possibly 7.5-7kBeen waiting for 8k since we broke major support a couple weeks ago:Same chart on the weekly view: