Re: Down below $9k! Buy the dip now?

Quote from: teosanru on September 27, 2019, 10:47:56 AM

Quote from: cheezcarls on September 24, 2019, 07:23:08 PM

And the bears are taking over!

In this situation right now, what price do you think will be their new support and resistance level?

The Bakkt hype continues!!! Most freaks out there think that Bakkt would skyrocket BTC, but it looks like we're heading south instead.

Volatility is so high right now, and I bet when I wake up later, it might be going even lower.

Do you think it's the right time to buy now? Or should we wait for BTC to dip even further?

I think it's time right now to accumulate more satoshis in my arsenal, as the bloodbath sale begins!!!!

Going by the technicals I think we are again entering into a bearish phase. The daily chart of btc shows a death cross on the EMA. Moreover there was a long descending triangle on the daily chart which is bearish too. Moreover bad news coming all around is another reason. However this can't be completely said a bearish phase because we are still up holding on the weekly chart. So no need to be worried. We can still become bullish with just one wave up.

Although the downtrend is clearly showing but as you said, things can still change, however, we still need to accept the fact that things are not so optimistic for bitcoin because it has had a period of sustaining prices above $10k for a long time, it was probably exhausted and unlikely to increase, so a weakening period to accumulate was the demand of bitcoin. And the important thing here is that we do not know where the accumulation range of bitcoin will be, which is a problem if we buy it now.