History says Bitcoin is due to drop roughly 30%, but you want to buy this dip
Bitcoin is likely due for a sizable correction.
How sizable you may be wondering?
Well, if history is any context, we should expect to see something right around the 30% range.
Though, we may bounce a little here first...
(Source: https://www.livebitcoinnews.com/bitcoin-price-analysis-btc-remains-attractive-8350-holds-key/)
Either way, somewhere around this area we are due to drop by roughly 30%.
Why do you think that Doc?
Let me tell you!
Well, if you go back and look at bitcoin's trading history, we see that after sizable up-moves, bitcoin often pulls back rather significantly.
Often in the realm of 30%.
Going a bit deeper, if we look at the last bull market cycle, which is where I think we are right now, we can see that bitcoin had roughly 9 pullbacks of 30% or so on the way to new highs.
Read that again...
That last part needs to sink in a bit here...
From late 2015 until late 2017 (the last bull market cycle), we saw bitcoin pull back by 30% on 9 different occasions.
That means that anyone that missed the run so far should be waiting for one of these pullbacks and then they should be buying the dip.
I know I will be...
Will you?
Stay informed my friends.
-Doc
Still waiting for this dip...
I am also looking for that Steem dip, and today we almost touched .40 cents.....
I buy it drops...... I sell It rises Lol🙃
Yep, that seems to be how it goes. Ugh...
I agree 100. I've definitely been talking about the next correction but I'm starting to have my doubts given how excited everyone's been lately we did however recently have a triple top and I really think going to go down by about 1000 at least.
Well 30% would take us to the $6k area... That seems like a great spot to me.
Am waiting patiently to get some. Either way up or down will do right now though😁 looks like hodling may finally pay off. Phew
Hopefully.
Buy Buy Buy 👍💰👍
Will you be buying the dip?
I immediately pulled off my calculator and estimated 30% drop from the current price, which means I´ll be buying a little below $6K...
If you take the $8,300 price it gets you right around the $6k number. :) I think that is a great entry.
Of course, my entry orders already placed but... it's not falling!!!
Yep, I think most are experiencing the same problem, which is why it may make another surge higher before it goes lower and we see this 30% correction.
I agree, I’m staring at that $6200 level. Some are saying we might have a little juice left to $9500 but no one knows for sure 😀
Retesting that $6000’s level support is so bullish! 🚀🌝
Yep, well as long as it holds and starts trending back up that is!
Scaling in with Dollar Cost Averaging is the best bet now as I agree we have seen the worst!
Posted using Partiko iOS
The narrative has turned to buy the dips instead of sell the rips!