[BTC] Buy the Dip? 21.2.18 analysis.

HI All, Crypto Sludge here.

BTC showed us today how fragile this run has been so far and dipped today quite strong taking the whole crypto market with him.

If we look at the charts, we are actually retraced exactly on the 0.236 fib level retracing from the reversal @ 6K earlier this month.

Is it over? I am not sure it is.

Although there are plenty of support points, we haven't spent there enough time for them to become a strong foundation, the market buy volume has shown that is's still not ready for a full pledged bull run and I still see lots of uncertainty out there - people are taking out profits as soon as they can.

My personal stop-loss from a previous position (50% i cashed out @ similar price during my "take profits call" in one of my posts) is still in the 10k$ area even as low as 9500 (0.382 fib level). If we dip below that and i get stopped out, i will re-analyze my approach for new entry points.

This is exactly the reason i kept saying on my earlier posts, to take this run slowly, this is not the FOMO run of the 2nd half of 2017, not yet at least, BTC will need to break 12K and then 14K with a significant buy volume for the FOMO truly wake up again.

Stay Strong!

Trade ON!

Crypto sludge.