After the Monster daily runup as you can see below, bitcoin took a very large hit last night. In the big scheme of things this is nothing and mainly for everyone who bought the chase to 1100-1200. I still think Bitcoin is going to $2000+ before this run is over. And the chart below is playing along just right with certain indicators.
This is a daily chart above and as you can see the Momentum RSI indicator shows highers highs on the Daily Chart. THIS IS VERY POSITIVE. Of course it will need some consolidation sideways but I believe this dip will be bought.
Let’s take an updated look at the google trends which I displayed here yesterday.
The interest has not even eclipsed and made new highs yet. This is very positive for bitcoin. If this does not make new highs, in my opinion, would be bearish. And seeing as I am VERY bullish on bitcoin I see this interest rising to new highs again on this run up.
The 4 hr chart RSI also made new highs. Buy and “hodl”. This is going to get wild. This dip will be bought.