According to Gareth Soloway, chief market strategist of InTheMoneyStocks.com, this might be the case.

Here's the reason:

$46k support was broken January 5th.
This correlates with what Peter Brandt, Author of Factor Report and famous futures elite trader, tweeted today about the violation of Bitcoin's parabolic move that he predicted a while ago, but didn't take it very serious in the beginning:

By the way....

Did You Know?

Bogdanoff brothers, famous for the meme "DUMP IT", have died at the age of 72. Days apart….

It seems they BOTH died of Covid-19.... or just faked their deaths to finally rest in peace. They were very intelligent guys, who knows right?

Ok now let’s head to my analysis:

Buy when the RSI reaches 40 or less in the weekly chart. The ideal case would be to buy when RSI is closer to 20. The thing is, at least on this chart, it never happened. But it did.

What happens is that most of BTC charts from exchanges (pairing with USDT) have started just a few years ago, while Btc started more than 10 years ago. So, keep in mind the indicators are kind of cheating you.

If that’s not the case, well, Mr. Soloway could be right saying we’re going towards a DOT-COM moment in crypto.

If BTC is going to drop below 39 on the RSI, GET READY FOR THE BIGGEST DIP OF THE YEAR INCOMING.

If you want to add this indicator to your charts, the name is RSI+EMA by CryptoCrown. It’s available for free to use on TradingView.

Let’s look the daily chart for BTC/USDT:

As you can see, the RSI+EMA indicator is showing we are already below 40, which signals that BTC still has space to drop even more. I’d personally wait for it to go below 30 in the daily chart before making a substantial investment.

To finish:

I found a very interesting app to stay up to day with crypto news.
It’s called Crypto Panic, and can be found on both iOS and Android App Stores.

You get news from all over the world in real time. It’s very useful if you want to be the first to know things.

Look how cool it is:

Time to go hiveans. If you enjoyed this post, don’t forget to give it an upvote!

See you in the future, pathfinder.
May the force be with you, as usual.

Best regards,

@xmauron3
The future is awesome.