Bitcoin Correction Imminent!
I circled the points where the relative strength index showed that Bitcoin was over bought and the corresponding dips.
As you can see on the RSI every single time we have gone over the RSI we had a correction, not all of them were huge but, the bigger the run up the bigger the dip. Now for people who got into Bitcoin early just HODL, but for traders, its a good time, in my opinion to move some BTC to USD to hedge against the correction so you can re-buy the dip depending on when you got in you might be able to get in much cheaper. This could be a 30-35% dip in my opinion so hold onto your hats everyone!
Now I am by no means FUDing, I am long term on Bitcoin corrections are healthy for any market, it gives buy in opportunities for new investors and for traders to lock in gains. I especially think this dip will be big because people want to lock in those gains for holiday spending. Again I am not a financial advisor, this is all in my opinion. Thanks for visiting, feel free to comment and up, anyone who follows me I will follow back as soon as I notice it.
I'm watching. Source says if it breaks 10k, the correction will occur between 11 - 12k. Interested to see if he's right.
We already has a mini correction when we hit $9500.
I have not sold, but I moved it to an exchange that I can sell to USD from so when it starts dropping I can sell and re-buy.
Like you said, I'm watching those dips. Getting ready to jump in as a new investor. Thanks for the info. :)
Awesome! Glad I could be of some assistance! Thanks for commenting, I am following you friend.
:) Thanks. Not much punch behind my upvotes.....yet.
Early on set your posts to get 100 steem power instead of 50 50
Here is your chance man, wait till it hits bottom.
Haha. I was just thinking of this post. Won't be getting in on this dip, but I'll have a lot more knowledge when it's time. Maybe too much. :)
you will have another chance, check out my latest blog entry friend.
@OriginalWorks
The @OriginalWorks bot has determined this post by @embomb701 to be original material and upvoted(1.5%) it!
To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!
@minnowpondblue has voted on behalf of @minnowpond.
If you would like to recieve upvotes from minnowponds team on all your posts, simply FOLLOW @minnowpond.