Add to Bitcoin Positions on Panic Selling

[SamNews]

We had recently written about a likely bottom in bitcoin, however, the pullback was shallow and the cryptocurrency is on the verge of a breakdown once again. While it is difficult to pinpoint an exact bottom, we can estimate the process of a bottom formation.

Key observations
1 - Bitcoin is looking weak and is likely to fall further
2 - The RSI has entered into the oversold territory, which has historically been a good buying opportunity
3 - If the RSI falls below the current levels of 28, it can fall to 25 and 21
4 - We recommend buying Bitcoin close to $5500 to $5800 levels for the long-term

READ MORE : https://coinnews.zd.fr/add-to-bitcoin-p ... c-selling/