This must have happened literally while I was typing the previous post
Made with TradingView by @ bitbrain
With reference to my previous post:
The support level has broken. It's now safe to assume that the big dip is here. I can't say how big it will be, but historically they happen fast: between a day and a week would be my guess.
The good news is that they bounce back very fast too. Of far greater importance is what happens after the dip and bounce back. At this stage we can't say. I wouldn't trust anyone who confidently tells you otherwise.
I'm still waiting confidently for that institutional money to pour in. Perhaps this will provide the cheap buy point that they need to get started...
I'm re-posting a few pics from the previous post just to recap:
June 2013:
From TradingView - modified by
And May 2014:
From TradingView - modified by
The chart below highlights shows similar past dips and where we are now. Note that there are several smaller examples of such dips on the chart:
From TradingView - modified by
I'm watching this with great interest!
Yours in crypto,
Bit Brain
DISCLAIMER:
I am neither a financial advisor nor a professional trader/investor. This is not financial advice, investment advice or trading advice. Unless otherwise stated, all my posts are my opinion and nothing more. Crypto is highly volatile and you can easily lose everything in crypto. You invest at your own risk! Information I post may be erroneous or construed as being misleading. I will not be held responsible for anything which is incorrect, missing, out-of-date or fabricated. Any information you use is done so at your own risk. Always Do Your Own Research (DYOR) and realise that you and you alone are responsible for your crypto portfolio and whatever happens to it.