Seeing $BTC close lower for three hours in a row doesn’t make me think it’s “due for a rise” in the next hour, so I wouldn’t buy the dip based on that.
From 18:00 to 21:00 Beijing time on October 18, Bitcoin’s hourly closing price fell steadily, from about 82,153 to 81,983 USDT, a total drop of roughly 0.21%. Simply counting the number of down hours can make this pullback seem more significant than it is.
A few consecutive declines and whether a price is more likely to rise next are two different things. To say that this kind of move is more likely to be followed by a rebound, we’d need statistics on similar past cases; the three hours in front of us can’t answer that. Likewise, a small pullback doesn’t prove that a rebound is imminent.
I see this as a modest pullback and won’t treat the streak of declines as a buy signal for now. “It’s due for a rise” isn’t enough to justify buying the dip.
From 18:00 to 21:00 Beijing time on October 18, Bitcoin’s hourly closing price fell steadily, from about 82,153 to 81,983 USDT, a total drop of roughly 0.21%. Simply counting the number of down hours can make this pullback seem more significant than it is.
A few consecutive declines and whether a price is more likely to rise next are two different things. To say that this kind of move is more likely to be followed by a rebound, we’d need statistics on similar past cases; the three hours in front of us can’t answer that. Likewise, a small pullback doesn’t prove that a rebound is imminent.
I see this as a modest pullback and won’t treat the streak of declines as a buy signal for now. “It’s due for a rise” isn’t enough to justify buying the dip.