Bitcoin has had a very steep decline recently. It sits well within oversold territory and the PSAR's of most Cryptocurrencies has already turned bullish on the 4-14hr time-stamps.
Support still sits around $5780 which is far below the current market price. A continued sell off to the support level would signal extreme instability and worse circumstances would ensue.
If you are willing to bet that Bitcoin won't die in the next couple of weeks, a long position from ~$6250 with a target of $6500+ is a safe trade.
Comment
⋅
We have reached the $6500 level and have profit under our belt. The momentum is strong so it is very much safe to let the profits run. Set stops flat to eliminate risk.