Any market’s strength can be determined by analyzing the dip. If dips are shallow and short, that’s an indication of buyers eagerly waiting to commit new money to any pullback. If the dip isn’t quickly bought, that’s a warning sign of an impending correction and sharper pullback.
On Tuesday, Bitcoin staged a roughly 15% dip from $4400 to $3800. The dip lasted about 12 hours and was erased over the next 24 hours. It was quickly followed by a new all-time high.