Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
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In a bull market buy the dip.
Traders forced out, price went to liquidity zone. After more consolidation I expect full retrace.
Price always full retraces in a bull market. Buyers > sellers. This move down was buyers getting forced out, cascade type deal.
It's hard to say for sure, so could have another low, though I wouldn't bet on it. If I were short I would probably close here unless price looks bad again.
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At support. Could go lower but this isn't a bad entry assuming btc did not top. I think there is a very low chance we topped.
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If we did not top, I would say 50k start bidding and probably ditch if it looks bad.
If we topped, we're basically buying 17k.
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To me, I can't say for sure right now. After a week or so I will probably act but for now I'm pretty far above water and can afford to wait and see. If you're using leverage might want to get out till the water clears in case price looks bad.
Nobody can really predict the future. Might have more support down there and after sellers done we move on, or sellers stronger, not 100% sure.
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There is significant amount of buyers near 30k. Price looking weak in this area so unless more buyers or sellers stop price should hit that range.
Hard to say what's going to happen, but I'm not at the point where I think it's over yet.
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Could go either way. If we lose momentum here it'll probably be something like how price reacted after 12k years ago.
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Originally thought it would stay here then drop back, but not 100%.