Looking at the charts for today, i believe this dip was absolutely necessary to give us the momentum to push past $8,000. The RSI is retreating quite nicely, and the price has found support around $6,300. I believe we shouldn't go much lower, possibly bounce off $6,000 and hold support there. Although, there is a possibility, rather small though, that we could see a break below $6,000, and if that does happen, we will likely find support somewhere between $4,300 and $5,000. NEVER EVER TRADE WITH EMOTION! If you're long on your positions, sit tight, and if you can afford to, buy up some more at this wonderful discount, and start your DCA (dollar cost averaging). Good luck to all
DISCLAIMER: I AM NOT A FINANCIAL PROFESSIONAL AND THEREFORE CAN NOT GIVE YOU FINANCIAL ADVISE. ALL INFORMATION PRESENTED HERE IS MY OWN OPINION AND SHOULD BE TAKEN AS SUCH. PLEASE DO YOUR RESEARCH BEFORE INVESTING IN ANYTHING.
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Let's remember that the market is fluctuating, many times the price goes down to go up a little more
and so are the emotions going up and down :D
This dip was not necessary, Bitcoin was growing great. It is due to exchange hack
in my opinion, it was very overbought on the RSI on 12HR and 1D charts. This is just one indicator, but in the past, it has proven to be a good one. And the exchange that was hacked was bancor....which is a trash exchange with less than 1% of the trading volume for the the entire market. So, no it was nothing to do with the exchange hack.
Let the price of bitcoin be fixed price to day is up down tomorrow the price is hight that is bored
time to sell your eggs :D
Many said on twitter that it is going to see 4.3k ... waiting patiently :p
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