I'm going to go out on a limb, and say this looks like a local bottom. I compared it to a few other bottom patterns from September and May, and it looks similar. Also, once I drew the regression channel it looks like we could move to $57,000 before even leaving the channel. So I wouldn't be surprised by an 8-10% day coming soon. I guess the strategy here would be to either buy lower lows within the channel to dollar cost average the decline, or buy now and sell the top of channel, while waiting for a convincing breakout to the upside.
Also, checkout the bullish divergence on RSI.
Also, checkout the bullish divergence on RSI.
