## **Bitcoin tested $8,000, a good start to buy the dips**

I have been preaching for quite a while about bitcoin testing $8,000, and today it did. From all-time high Bitcoin corrected 61.8%, if it was stocks that would be a major crash, only a fool would not worry. But we are in a different asset class and this correction is nothing less than a normal correction. Price has to breath out before continuing the trend.

Correction is not a point on time, but a process. There is no guarantee that the price won't make another low, but that will just be another great opportunity to buy. As a process, I'm looking for bitcoin to break the resistance trend-line first, then a break of $12,000 for confirmation.

According to EW count, Bitcoin correction is A-B-C-D-E. Actually this type of correction I like more than a classic ABC because this correction is more natural, it took longer plus presented a better buying opportunity.

This is exciting times.

https://steemitimages.com/DQmeL7ggKbKYEfd1QdoiFdMvFjsUeii64twhxGZkkwBSvzN/bitcoin.PNG

Please read my previous bitcoin posts:
https://steemit.com/cryptocurrency/@ctyptouniverse/bitcoin-poised-to-test-8-000-before-rebounding-to-new-all-time-highs

https://steemit.com/cryptocurrency/@ctyptouniverse/bitcoin-moving-toward-major-support-usd8-000-get-ready

## Follows and upvotes are appreciated :)

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**Disclaimer:** The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. This is not a financial advice. It should not be regarded as investment/trading advice.