Bitcoin #bitcoin triggered a 4-hour overbought condition, while facing pressure at the price structure.
There are two logical approaches to managing positions.
The first is the most conservative approach—first, take some profits from the long position, and then adjust the stop-loss up to EMA20/50. If the price subsequently drops below EMA20/50, then fully exit the position passively to secure the existing profits.
The second approach is to close all long positions directly and then wait for an opportunity to switch to shorting, betting on a decline under overbought conditions and previous high pressure.
Neither of these strategies is absolutely right or wrong; which one to choose depends entirely on your trading fundamentals and operational style.
So will it continue to break upward?
I don't know; let's discuss the breakout after it happens. If it doesn't break out, treat it as if it didn't happen, and focus on securing the profits that should be made.