Bitcoin has rocketed up these last several weeks with very little dips or pullbacks to speak of.
The first real one happened early this morning when bitcoin dropped all the way down to about $17,600.
So, if you somehow sold the top around $18,900 and bought that dip on the lows around $17,600, you would have gained about 7% on your position, tops.
Hardly the kinds of dips we have seen in the past.
Bitcoin is in full on breakout mode, being lead by fundamentals, institutions, new gateways, and a supply shortage.
Charts like this don't come around that often:
This current wave will likely dwarf the one seen back in 2017 and will likely persist for a year plus as it is being driven by much stronger hands as opposed to the one back in 2017.
Eventually the weak hands will show up in mass, but probably not till the price is multiples of where it is right now.
Retail loves to buy tops and sell bottoms, it's just what they do.
All that being said...
Eventually there may be some dips that are more buy-able.
Back in 2017 there were roughly 3 dips that dipped 20% or more during the course of that bull market.
So, it's not out of the realm of possibilities that we get something more along those liens in terms of dips.
However, based on the current price action, it doesn't look like it will be happening any time soon.
The dip from early this morning down to $17,600 was already bought back up to $18,500.
So, as you can see, when there are dips they will be fast and bought right back up just as quick.
Institutions are in now and they have already proven they will be dip buyers along the way to higher highs.
Stay informed my friends.
Posted Using LeoFinance Beta