There’s The Dip

Bitcoin just made a new high of $34,000, but the rejection of that level triggered a swift 17% drop which was the biggest intraday retreat since March. This action wiped out gains made over the weekend.

BTC

The sell off was not isolated to BTC.

LTC

ETH

Looking at the volume on these sell offs it’s a bit suspicious to see such drastic volatility. We are already recovering so I believe this was just a rejection off the highs which gave larger traders the opportunity to take profits which triggers retail sales. At that point that big money can come back in and buy up the cheaper supply as retails sells for smaller gains or even small loses.

I would not worry too much and my plan is to buy any dip, but that appropriate for my risk appetite. Please use you own judgment as my word is not financial advice.

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