There is a saying in investing that you should not try to catch a falling knife. From decades of experience I can tell you it is a good rule to live by.
If you don't know what this means, it basically means don't try to pick bottoms. If price is cascading lower don't try to pinpoint where price will rebound before it has shown any signs of rebound.
I'm not perfect, sometimes I do something I am not supposed too. Such as catch said falling knife which is exactly what I'm speculating on this evening.
Here is a live example of me trying to catch as I tell myself "BUT IT'S SO OVERSOLD and THERE IS POSSIBLE SUPPORT AT 85 IT JUST BOUNCED OFF."
Well, let's hope I'm right and get lucky....
P.S. - I've done the same with BTC and bought in at 10,070. Stop loss at 9,900 come on dice roll my way.
P.S.S. - Hey, atleast I have a tight stop loss in when I gamble ;-)
