Our hero has made a magic drop yesterday.. However the price moving down is not always a bad indicator if Bitcoin is forming a double-top pattern then we can see a drop going back to 9500-9600 USDT, however if the price drops to this level this can mean that bitcoin is forming a double-bottom pattern as it has already bounced back from 11600-11700 to 9500 USDT price zone in February and this movement of Bitcoin can just be another cycle. However Bitcoin seems to find a support zone at 10700 USDT levels. If to take a look at the graph we can see that if it is on a bull run and the correction is done, it still hasn't broken the upward trend so I will be optimistic about Bitcoin. My guess is as the upward trend hasn't been broken yet and the pattern is forming a breakout, wait till the end of the day and if Bitcoin finishes the day with price equal to or higher than the current price, then its the time to buy Bitcoins as the breakout is close, really close. However if you are HODLing other coins then I would recommend keep your coins because, the alt coins do always drop when bitcoin is on a breakout however not all of them and even if the alt coins go bearish during the Bitcoin breakout, they quickly catch up and some strong altcoins will be having huge breakouts after Bitcoin finishes its breakout and meets a heavy resistance!!
MURPHY'S LAW
"whatever can go wrong, will go wrong"
This law seems to be the golden rule of crypto-trading for me. Whenever Bitcoin has been on a breakout or correction people's ideas were either "bitcoin's dead" or "bitcoin is going to 50k"... HA HA HA!
whatever it is, the market seems to do opposite of what we think in this cases, so when BTC dropped from 11500 range in February everyone said it is gonna form a double-bottom at 6000 USDT... HA HA HA, bounced back at 9400-9500 USDT!
when BTC broke the 11500 resistance once again everyone was expecting the breakout to happen... Lowest price today 10800.... HA HA HA!
So now as the people are saying that it is gonna form a double bottom and so on... I would just say lets watch the trend line and see how it goes, however this is tricky you have to make sure you change your bitcoins as soon as it breaks the upward trend line as after it breaks the upward trend line its strong support will be around 9500 USD!
MURPHY'S LAW
"whatever can go wrong, will go wrong"
This law seems to be the golden rule of crypto-trading for me. Whenever Bitcoin has been on a breakout or correction people's ideas were either "bitcoin's dead" or "bitcoin is going to 50k"... HA HA HA!
whatever it is, the market seems to do opposite of what we think in this cases, so when BTC dropped from 11500 range in February everyone said it is gonna form a double-bottom at 6000 USDT... HA HA HA, bounced back at 9400-9500 USDT!
when BTC broke the 11500 resistance once again everyone was expecting the breakout to happen... Lowest price today 10800.... HA HA HA!
So now as the people are saying that it is gonna form a double bottom and so on... I would just say lets watch the trend line and see how it goes, however this is tricky you have to make sure you change your bitcoins as soon as it breaks the upward trend line as after it breaks the upward trend line its strong support will be around 9500 USD!