“Buy The Dip” Out of Fashion

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konduchi
Jul 6, 2019

It’s difficult to know if there is more bouncing around or correcting to do. But regardless of whether there is or not, and least we see talk of buying the dip went out of fashion quite quickly:

Santiment social search result for talk of dip buying (ignore last data point)

We see in the above chart that talk of dip buying has returned to levels comparable to before the move above 8k BTC.

On the other hand talk of correction has done something similar:

Santiment social search result for talk of correction (ignore last data point)

But at least there was more talk of correction near the 13.7k BTC than there was of buying the dip.

Here is a bonus chart for you showing spikes in the mention of lower targets near the bottom of the recent dip to 9.7k BTC:

Santiment search result for lower targets (higher time resolution than the above charts)

I did not include 9k in the above search because 9k would have been kind of reasonable. I want to show occurrences the more unreasonable or irrational targets.


NB: none of the above information tells us what the very next move is. None of it tells us if a new high will be made in the near future, or if more correcting is needed first. However, hodlers could taken it as an encouraging sign there could be further gains in this overall rally from 3.2k BTC.

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konduchi
Jul 6, 2019

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