The current bearish vibe is still lingering around the crypto space. BTC is still making another lower low on the daily chart, and a potential bearish engulfing weekly candle is in the making. Although I am not trading solely on candle patterns, the fact that we have a giant red candle on the high time frame chart is kind of worrisome. Because of these, I am still maintaining my conservative strategy and leaning ~60% on the possibility that we have not yet bottomed. That said, this seems to be a reasonable price zone for long-term investors to start scaling in BTC in my humble opinion. As a trader, I am still waiting for a reversal signal before rejoining this market.
