Some Thoughts about Bitcoin

The price is not far from the strong support. RSI is not far from the oversold area. In the hourly time frames, the market looks oversold.
We may say that within several days, the market will be able to provide us with amazing trade opportunities for buying. This support looks like the perfect base for a new upward movement to the ATH. But… we can’t ignore a possible dump in the stock market, no active buyers in the crypto market and bearish news. All these factors will be more than enough to push the market to new lows.

That’s why I don’t want to rush in the current market conditions and I want to be very careful with any new long positions. Now the main goal should be not to make as much profit as possible. The main goal should be to avoid deep drawdown.

bitcoin #btcusd #crypto

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