Bitcoin has been dropping heavily for the past week, at this present moment, bitcoin is heavily oversold on the RSI of 2 hours. It touched the historical support of 16716 and got rejected. After a few green candlesticks, Bitcoin is looking like it will reverse and go upward to touch the last resistance level of 17428, I would proceed for a long position with caution with a well-placed stop-loss under the support zone. This is most likely going to take 2-3 days, it will touch the resistance and most likely get rejected to continue the down-trend.