Everyone needs to calm down, BTC is not crashing again. The correction is over, we are now on the upswing. Why can I say this? Well it's been about a month no scratch that even more than a month since the all time high.
Look at the indicators MACD, RSI, both in the neutral zone, recovering!
And just take a step back click log, put on heiken ashi, change to the weekly chart, and you'll see that the bottom was confirmed, we are now changing directions and the momentum is UP!
Why did we go down from around 12k to 9,8k? Well now that we are in the higher levels price will vary a great amount more. Bitcoin is no longer priced in the 10$ levels, nor the 100$ levels nor even the 1000$ levels. Now we are in the 10 000$ levels, price swings of around 1k or more are natural and normal. People keep losing their panties whenever we dip. You know who's not losing their panties? These guys :
bitinfocharts.com/to...tcoin-addresses.html
Sure they might sell of a bit for short term profit. But what do they do? They buy the dip, why? Because Bitcoin is BETTER than GOLD! It's one of the most scarce resources in the world! With real world utility. Try moving 10 000 000$ from one bank account to another bank account which you both own in the same country and the same state. PAIN IN THE ARSE! Bitcoin, you click two buttons!
What to do? Buy the dips, this is going one way - up.
This is of course not financial advice and I would challenge anyone to find good evidence and good arguments against my reasoning. Do as you will do your own research!
Best of luck,
X
Look at the indicators MACD, RSI, both in the neutral zone, recovering!
And just take a step back click log, put on heiken ashi, change to the weekly chart, and you'll see that the bottom was confirmed, we are now changing directions and the momentum is UP!
Why did we go down from around 12k to 9,8k? Well now that we are in the higher levels price will vary a great amount more. Bitcoin is no longer priced in the 10$ levels, nor the 100$ levels nor even the 1000$ levels. Now we are in the 10 000$ levels, price swings of around 1k or more are natural and normal. People keep losing their panties whenever we dip. You know who's not losing their panties? These guys :
bitinfocharts.com/to...tcoin-addresses.html
Sure they might sell of a bit for short term profit. But what do they do? They buy the dip, why? Because Bitcoin is BETTER than GOLD! It's one of the most scarce resources in the world! With real world utility. Try moving 10 000 000$ from one bank account to another bank account which you both own in the same country and the same state. PAIN IN THE ARSE! Bitcoin, you click two buttons!
What to do? Buy the dips, this is going one way - up.
This is of course not financial advice and I would challenge anyone to find good evidence and good arguments against my reasoning. Do as you will do your own research!
Best of luck,
X