🚀 Cryptocurrency investors can go long in Bitcoin with a tight stop loss below $25,800, according to Markus Thielen of Matrixport.

Crypto service provider Matrixport is opting to buy the recent price decline in Bitcoin with a tight stop loss, Thielen said, in anticipation of Treasury yields falling and risky assets like cryptocurrencies rising.

📉 On August 15, the leading cryptocurrency by market cap dropped more than 10%, testing the former resistance level of $25,000. Prices have since traded around $26,000, with many investors anticipating continued losses in the coming weeks.

Markus Thielen, head of research and strategy at Matrixport, thinks otherwise.

💬 “With tight stop-loss orders, we would be long Bitcoin, waiting for a rally in US tech stocks and lower Treasury yields. We were expecting a 10% correction by the end of the summer, we got that, and with the proper risk management approach, investors can try to go long again,” Thielen said , in Tuesday's market update.

A stop loss order is a buy or sell order placed in advance to limit losses resulting from an adverse movement in prices executing the transaction.

According to Thielen, investors should closely watch Bitcoin's price for a decline if it falls below $25,800, which could trigger a stop loss order on the long position. At the time of writing, Bitcoin was trading at $26,000.

🤔 Do you think the decline in Bitcoin will continue? We are waiting your comments!