Xzhi

What should happen next for Bitcoin after this move.

Long
BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Bitcoin had a massive dump today.

It looks like the bottom should be around 8k to 7k. In the meantime, it will probably consolidate above 8k.

There is a chance for it to move higher from the current price.

Personally I have placed bids from 8k to 7.1k and have gotten filled for just one order which really made my day. I believe a great place to enter long is ~8300.

However, keep in mind that after such a massive dump, longs are very risky and shouldn't be kept unless it continues looking good. If you want to be safe, just wait a few days so you can see clear support.

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