Let me answer the second question first: we don’t buy now for a swing trade because we don’t chase moves where the reward/risk is no longer attractive.
As far as preparing for the next buying opportunity: IF Bitcoin can retrace to the 52500, to 53500 area and produce a bullish reversal, that would be a higher low.
A more extreme bullish scenario would be a test of the 48K area a second time which would be a potential double bottom .
In this situation we will be open to taking on a new swing trade long, but it will be categorized as an aggressive trade since the location is less than ideal.
If Bitcoin does not align with the rules, whether it runs or not, we do not put on any new risk.