How low will Bitcoin go?

According to CoinMarketCap (CMC), Bitcoin is currently down by 17% in the last 24 hours as its price dipped to $13,900. Other cryptocurrencies followed suit on the rash with Bitocin Cash suffering the hardest, a 31% dive, given its recent pump due to being added on GDAX/Coinbase.

Butnow everyone's wondering, how low will Bitcoin go? Well, here's my take on that -** THIS IS NOT INVESTMENT ADVICE**

Per the chart above we can see the cryptocurrency dived at one pointed to the bottom of the yellow line and met its support there, that didn't bulge making it bounce back to nearly another support at little above $15,000. Now this hasn't yet been reached meaning the cryptocurrency can still dive back to roughly $12,500 - $13,000 before bouncing back again. However, per the indicators contained in the figure, I believe it'll bounce.

The RSI doesn't show the cryptocurrency is overbought, and the Stochastic indicator shows it's soon going to be ready for a bounce. As you can see in the image, every time the Stochastic indicator dips below the line the cryptocurrency bounces back.

My suggestion: take advantage of the low prices now before cryptos bounce back, as this is like the fourth major crash this year. Keep calm and HODL.

Follow @frsvp for more cryptocurrency news and developments.