Good time to buy or sell? There are two ways you can look at this:
--> Totally panic and sell everything or --> This can be a perfect buying moment.
If you look at the graph below, this might be a very good buying moment. You are looking at the four hour graph, below that you see the Relative Strength Indicator (RSI). This indicator shows the momentum of the price. Is the RSI at the bottom of the purple band? Then the price of bitcoin has fallen sharply in a short time. Often a low RSI indicates a bottom.
The red line could give us a new support line.
If you look at the 5 minute graph you'll see that the dip is being bought up quickly, which means that bitcoin is still in a bull market. Investors have waited for the Bitcoin to drop.