Bitcoin has just witnessed an 11% correction this week, however, it appears there has been some support formed at around the $58k region. Currently, on the 1hr timeframe, this support level has been respected with price bouncing to the mid 60k regions. For this long strategy to play out the support level has to hold and the price needs to stabilize. The RSI indicators are very oversold at the moment, as this is crypto it's hard to gauge these levels as often price action doesn't reflect correctly on the RSI. The markets are very volatile right now so caution is advised. The targets for this trade are at 62.6k which is the recent high. Due to the long wicks in this space, the stop loss has to be quite big, so the stop for this trade will be at $57.6k.