That's one way to see it.
But imagine whales are finished accumulating Bitcoin and they start topump the price up to 8k. Media hops in and is fueling FOMO buying. Price rises up to 10k and you, the smart one who said buying now at 6700 would be dumb, is in the end the one who looks a fool.
You don't know what is going to happen in terms of price!! You can guess. But guessing is not knowing!
And without giving any further explanation or analysis why buying right now would be bad, is just pretty lame.
How about this analysis, justifying that buying now is risky? On the weekly chart, MACD is deep into negative and price is hugging the lower BB.
It is risky to buy BTC now, even if it's oversold, since it could drop further, below 6k$, and eventually even as low as 3k$.
If there will be a recovery, marked by strong buys, weekly MACD will cross into positive and price will move away from the lower BB.
To buy BTC, I would wait for strong buys, absolutely needed for the recovery, or the minor correction that would follow that pump.