Hello traders. BTC/USD looking like it is about to correct, based on it's performance in 2017.
In the daily chart, we can see that bitcoin has a dip-dip period of around 2 months. In the chart, this period is shown by the horizontal purple line.
If we apply this period to the near future (next week or two) we should be expecting a major correction.
Strong support around 8-9k levels, though I believe it will not dip that low.
If the correction occurs, we should be dollar-cost averaging within the green eclipse shown in the graph.
"BUY THE DIP"
Good luck! :)
In the daily chart, we can see that bitcoin has a dip-dip period of around 2 months. In the chart, this period is shown by the horizontal purple line.
If we apply this period to the near future (next week or two) we should be expecting a major correction.
Strong support around 8-9k levels, though I believe it will not dip that low.
If the correction occurs, we should be dollar-cost averaging within the green eclipse shown in the graph.
"BUY THE DIP"
Good luck! :)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.