Bitcoin (BTC) price abruptly dropped 4.9% from $9,800 to $9,324 after rejecting at a key resistance level again, is it a buy the dip opportunity?
Too early to say. We might be on the verge a major bearish inflection point. Until $10.5K and the year-long downtrend is broken, I still see the $5,000s or $6,000s as a real possibility.
Keep an eye on this bullish trend line:
A break below the $8,100 pivot will print a clear double top on the daily and weekly charts and will suggest a mid-term bearish correction. If that happens, dip buying in the $9,000s right now will bring you a lot of pain.