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Bitcoin price looking to dip

Written by  Guest Contributor: Anthony Marks - Crypto Trader Jun 17, 2020

I've been looking at expected movement in Bitcoin and a big dip down seems to be the popular opinion.

Having read respected traders blogs and watched their Youtube videos optimism is in short supply.

BTC/USD 4 day chart by Tradingview

The low volatility in trading and technical indicators such as the RSI shown above are showing signs of not only not reaching $10000 but taking a sharp drop down, at least in the short term.

Optimist predict a rise to $10000 and possibly up to $11400 if the very strong resistance at $10000 is breached.

Also see: Kraken crypto exchange review

Over all there is not much optimism and a drop does seem the most likely direction for Bitcoin, at least in the short-term.

If the price does drop down I might sell some Bitcoin and wait for the inevitable rise again.

But the reality is, this seems unlikely unless there is a major event.

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The Bitcoin price as well as the major stock market prices all took a hit a couple of days ago and it wasn't due to Bitcoin valuation alone that caused this current dip.

It seems pretty likely that the price will rise again and I will invest in some more Bitcoin at least in the short-term.

What do you think? Comment below...

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