Lynxys

Is this the buy the dip moment in the crypto market?

Long
A multiple of some of the most popular crypto selections shows that we are now on support, which has previously caused a large rally in the crypto market.
A great spot to make an entry imo.
Comment: Crypto has once again tested support and so far has held it and it is really close to breaking out of the down channel. If it can do that, I think it will build a lot more confidence and buyers.
Here's a screen grab of my daily chart for more details:
Comment: That break of the support last week was unfortunate and I'm analyzing bitcoin right now. I have created a fractal of a previous pattern below and it is following it. Today is very important for it to break the red line or else it might continue what the previous pattern did, go down. I also see the stoch making a wedge pattern, these are usually signs of a reversal, but since it is on the hourly, it would be a smaller move and the daily indicators look strong to me.

In short bitcoin has to break that red line and then get above 40k within the next couple days to give back confidence that this drop was just a raid on shorter term traders.