Buy The F-ing Dip

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Now is the time to consider buying the dip. The market is experiencing an unprecedented selloff, but support and resistance levels still remain. In August, when Bitcoin (BTC) dipped, it tested the $5500 level. Traders an use this level as support. One strategy is to enter in this current area of $5700 or so and see if $5500 holds. Using $5500 as support, close your position if the price violates that level on volume. Then keep track and look to see what other support levels lurk below that. Unfortunately, we have to go back more than a year to see such prices.

Author: Saul DeLuzoro

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