฿ Bitcoin BTC/USD Daily Video, September 06, 2021

soul rebel

Sergeant
Messages
146
Greetings Sive and all,
Are we looking at an opportunity to 'buy the dip'..? or possibly something else with current price action...?
Looking forward to your next update :cool:
 

gpeter991

Private, 1st Class
Messages
48
Greetings Sive and all,
Are we looking at an opportunity to 'buy the dip'..? or possibly something else with current price action...?
Looking forward to your next update :cool:
Hi, I am actually long and hold the altcoins at the moment. So I hold on to the last report by Sive. However, there are guys (Chief Equity Strategist at Stiefel), who seem to have opposite view like here:
 

Sive Morten

Special Consultant to the FPA
Messages
15,142
Guys, let's stay calm. Nothing awful has happened - this is only 3/8 retracement on daily chart, which is normal in current conditions, when price stands overbought and shows just first upward swing after May collapse.
Second - since we have no breaking news and price returns fast from 42 to 47K, it is really big probability that we're dealing with technical factors. Most probable is mass sell-off of expensive coins by institutional investors. Because all three exchanges - Coinbase, Kraken and Gimini were reporting processing issues.
Once market has reached purchase price - they wash coins away. It might be just portfolio revision as they understand that cryptos do not fit to portfolio risk parameters...
Otherwise - all new agencies would have exploded already with the news.... but we see nothing.

Definitely will take a look at it tomorrow...
 
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