The Dip that Will Verify the Parabolic End of the Bull Run

Many expected a dip except the typical shills that would tell you to buy at the top or else you will be poor forever.

Don't Panic! This doesn't mean we are doomed.

For the time being, this enormous drop means the crypto exchanges profited by liquidating longs. Who bought at the bottom though? I tried to log in to my exchange, but it was just loading forever.

So, this was an opportunity missed. I have stable coins sitting idle, just for these reasons, but the recovery was so fast that the price of BTC is now just where it was back on the 30th of August.

Although there is a possibility to go down more. And this is where we will get definite answers about the continuation or not of this bull run.

The Dip that will Follow will be Decisive

I had the impression in May that the bull run ended, but there is a possibility of new heights for BTC and other coins after what we see lately. Ethereum proven that we are still not in bear with the August run it had. I can't say that we are in uncharted territory either. It looks very similar to the 2017 summer, so during September, I will be waiting for a possible crash on some kind of fud. If we are correct then we will be talking about ridiculous prices and market caps.

I wrote this comment yesterday on an exceptional article I've read here, at Leo.Finance, by @empoderat. (link to article)

Usually when dips of 10-20% happen the recovery is not instant. It will not be different this time either.

The chart is just ridiculous, makes no meaning.

If we can recognize anything in this kind of chart is that somebody was trying to sell A LOT, but the orders in exchanges were just spoof-orders lying there to create the impression of someone being interested to buy.

This dump might have some significance. But for the time being, it doesn’t change a lot.

We have observed dumps like this one happening usually when BTC losses too much dominance. A new “altcoin” season (don’t really like this expression) was approaching and many were taking positions.

Quite often, BTC breaks the formation of this “altcoin season” with a 20% drop.

BTC dominance was threatening to drop below 40% and this was alarming. I can’t say for certain this was the reason, but this kind of pattern has appeared more than once. Frankly, I don’t have the time to prove this right now, as it would take many hours of research, just to verify one paragraph in this article. I may try to find charts proving this pattern that many more traders have observed.

Getting Ready for The Best Scenario Possible

I was expecting a dip and already discussed that in a comment I made yesterday. But, as usual, Bitcoin surprised everyone again, and it was a little unexpected to see it dumping because of El Salvador. Maybe this aggressive selling contained some kind of message, but this is just suspicions.

What I see is this was not the major blow, but a secondary will probably follow, and it will be decision time for the crypto market. Possibly at around 30k, if this is what is supposed to happen, then we will see a repeat of the 2017 Autumn.

I strongly believe after what we’ve seen during this summer, BTC and all crypto will begin rising parabolically for another three months.

We don’t know the future with certainty, but we can say that some conditions can bring amazing results. Since history is often repeated, then shouldn’t we take a risk and grab the opportunities?

I’m not always optimistic, but what we saw already was a great run, but not as great as many were expecting it.

I’m positive that this correction hasn’t ended yet, but I’m very much persuaded that in the next three months we will have some exciting times with BTC and most cryptos rising explosively.

Originally published at Hive via Leo.Finance

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