Bittrex
The price of BTC had plummeted to around $11,200 per BTC before settling again to $11.4K at the time of this writing from about six hours ago bringing back the price into where it was from August 28th. It is now slowly creeping back-up and might do another sideways move if the sellers are not done yet selling.
It is possible that the short-term sell-out or profit-taking is over and that we are now in another cycle again. This profit-taking event always happens following a long green candle. These short run-ups is a signal for us to already take profits like what I am saying in my previous posts because the short bursts of bull-runs will not last and it always does a "correction" which is indicated by long red candles.
The red candles is not a doom and gloom for BTC in particular because Bitcoin's price is certain to appreciate because of its limited supply and ever growing demand. So whenever there is a sell-off happening it is another great opportunity to buy BTC again like a rinse and repeat cycle. You will never go wrong if you just look at the green and red candles which is your indication when to buy and sell.
So as a rule you do not sell for a loss, you sell at the top, you do not chase pumping coins, you buy when it gets low and sell when it gets high. Bitcoin's move is almost predictable and just simply look at the chart and you will have the idea when you should do your trade. In these levels even if you are left with a bag of BTC it always find its way back from where it lefts off.