This is just an idea I've been entertaining for several days now, not financial advice. If BTC breaks above 50k, a ton of people would FOMO in because the price moved above a major psychological level for many people. But, if you look at the chart, there is obviously some heavy resistance between 50400 and 51500, which the price will probably reject off of IMO. This should be similar to when BTC broke below 30k for the first time, everyone thought it was going to zero, but there was obvious support at 28800, which we bounced off of. Or when BTC broke above 40k recently and everyone thought it was going to the moon, but really there was a lot of resistance between 40500 and 41000, which the price rejected off of and quickly dumped to 36k.
I will take this trade if the price is already overextended on smaller timeframes (5m, 15m, 30m) and there is low volume after breaking 50k
I will take this trade if the price is already overextended on smaller timeframes (5m, 15m, 30m) and there is low volume after breaking 50k