From a Technical Analysis point of view.
IF #bitcoin was to be viewed as bullish it needs to complete 3 phases of growth (A, B & C)
Until then it can go down lower even after 2 of the 3 phases
Ideally, what would help is a reversal pattern suggesting it has put in a bottom.
We could take a LONG trade if we have a daily CLOSE like this, remember Daily CLOSE for a long to the trend line.
I would suggest a BUY STOP and let the Market trigger the order by going higher tomorrow & if it doesn't our order is not triggered
Until then buying for FOMO is very risky!
IF #bitcoin was to be viewed as bullish it needs to complete 3 phases of growth (A, B & C)
Until then it can go down lower even after 2 of the 3 phases
Ideally, what would help is a reversal pattern suggesting it has put in a bottom.
We could take a LONG trade if we have a daily CLOSE like this, remember Daily CLOSE for a long to the trend line.
I would suggest a BUY STOP and let the Market trigger the order by going higher tomorrow & if it doesn't our order is not triggered
Until then buying for FOMO is very risky!