BOOM! It's happening! As predicted, the big August BTC (Bitcoin) dip is here. What's next?
Don't say I didn't warn you! Back in April, and as recently as August 6th, I warned that the year's biggest dips would occur around the 3rd week in August. Now, I guess that some might consider THIS week to be the third week, but actually next week is the third FULL week of the month. Coincidentally, the BTC dump has already started, but we've got more to come next week. (Scroll down for more details...)
Watch>>Crypto Banter outlines one of the biggest catalysts of this massive dump (hint: It's CHINA), and outlines just how low BTC could go (I've also pointed to $10k as being a 'potential', but watch timing instead!
One of the biggest crypto buying opportunities is upon us, but before you dive in at these discounted prices, WAIT! There's more to come, and here's what you should watch for before diving in.
#1: Yes, you can still short BTC (and crypto in general) because there's a bigger dip loading up next week. However, if you know how these things work, there'll be a big market "trap" or fake-out right ahead of it, so don't dive in too soon. I'm estimating that the "fake-out" move up, designed to lure retail investors, will be at the first part of next week, but should reverse mid-week bringing in that next big dip.
#2: From there, the market turns, and we should see a bounce as we end August and move into early September. However, don't be fooled as there'll be another downturn right after that, and many will fear it will dump below this upcoming low. Not so. I would expect a "W" (near double-bottom) reversal pattern at that second low in early September, followed by modest gains through the end of the month. However, if you're buying on leverage, wait for that second low to get in before you go long.*
#3: October will be BIG, and we could also see a big spikes in early November, too. However, as is typical of crypto, the year-end softens as people take their profits/losses.
#4: Expect nice gains beginning around the 2nd or third week of January 2024. February looks great, too, and so does March. Take your profits as the market softens a big in April of 2024.
*I'll do a mid- to late-2024 update as we head into the 2023 holidays, so stay tuned. In the meantime, remember INVESTING IN CRYPTO IS HIGHLY VOLATILE, SO DON'T INVEST ANYTHING YOU CANNOT AFFORD TO LOSE!