At this point in time, for most retail investors, the most prudent approach is to wait for Bitcoin to reach a new low, and at least wait for a reversal candlestick to appear on the hourly chart before looking for opportunities to go long.
Altcoins can be put aside for now, as the sentiment around them is currently poor.
Personally, I will be waiting around 114200, as this position is:
The position before the daily EMA21-30.
The fast track of the 4-hour Vegas channel.
The lower edge of the Bitcoin futures gap.
If this position stabilizes after a decline, the area around 1142 is a new pullback low where this bullish trend has not yet ended, making it a highly cost-effective opportunity to go long.
