Its fine to go long BTC now but also that position might need to be held for years to be justified. Speculation suggests a trade with a plan to profit short term thats why its a bit different for most people, its hard to know exactly when we have strength possible.
I also prefer the oppisite, I would like to sell into the white froth from big gains when we rise the most but I think the gains are unsustainable longer term.
My personal take on buying right now is a close above the 50 week average price for this week, that price comes on Sunday. Observing a little longer might reduce risk for the average punter. Also right now I want to see 7400 to hold and price confirm above there:
Heres my chart view with 1 hour bars. Its quite a small ask for us to meet the 2 day average price which is about where that blue line is. I would like it to regain 7400 as said so we can confirm the price has some strength beyond a rise from prior support as occurred earlier.
Buy into strength would be my general advice for those who are wanting to trade, alot of patience is required if buying on the way down otherwise.
