Hi, this is my first time trading.
I believe BTC could keep falling in the medium term to 7300-7200 (.618 fib) and around the 30 RSI floor, which has acted as bounce points in the recent BTC price action, while building stronger divergences in the short-term timeframes. There's also an intraday pattern forming in the daily to be acted upon after this daily close if you want to take a short-term trade (this daily is seemingly closing above a previous swing low with decent range and volume). An appropiate entry would be around this daily low, you would need to watch the short-term timeframe to pin-point a decent entry.
It all depends on your trade-size, trade-risk and if you are an intraday trader.
I believe BTC could keep falling in the medium term to 7300-7200 (.618 fib) and around the 30 RSI floor, which has acted as bounce points in the recent BTC price action, while building stronger divergences in the short-term timeframes. There's also an intraday pattern forming in the daily to be acted upon after this daily close if you want to take a short-term trade (this daily is seemingly closing above a previous swing low with decent range and volume). An appropiate entry would be around this daily low, you would need to watch the short-term timeframe to pin-point a decent entry.
It all depends on your trade-size, trade-risk and if you are an intraday trader.
What is probably going to happen, is that BTC will consolidate around these levels like it always does with enormeous daily ranges (6%-4%) for a market, like it always does.
So, it would be better if instead getting emotional about every little jump, you all waited for a strong buy signal with enough confluences.