BTC will likely break past $5,000. But it won't be in a straight, unchallenged line.
I'd say this drop is a good thing given the rather steep rise over the past week. BTC had previously built a strong base around the lower $4,000 area, with 3,800 shown to be solid support. It was from there that the previous high of 4,460 or so was taken out.
Then it moved too high, too quick. There wasn't enough momentum yet to challenge that very critical level of $5,000 even if it did come close.
The market has to undergo a correction first, with weak holders being shaken out. And replaced with stronger hands. I'm looking at the previous highest point of $4,450 to provide strong support. That would also be a good point to start buying for those who plan to come in. Plus to add more.
I agree with you on this @cendana287, just keep on stackin :)
That's the plan. I'm waiting for BTC to test the $4,460 support. Which will be the price I'll buy some again to replace the units sold when it was nearing $5k. My capital is limited and I have to take some profits and money off the table at certain high points. That provides the "dry gunpowder" to capitalise during those corrections that are inevitable.
That's very smart!! Bitcoins will easily be over $10knin years to come or even sooner 🙌🏼
OR... it has reached the peak right now and could go lower.
I do hope BTC will continue to go up in price. But I'm trying to be open-minded the best that I can by also considering the possibility of negative developments.
Can't be emotionally attached to it, as with the "fanboy mentality". I'd rather protect my interests first and foremost.