If history is any indicator, you want to be buying this next dip.

We have talked about this several times in the past, about how similar the recent price action is to what happened back in 2015.

Even this most recent bounce and drop all look very predictable based on what happened in 2015.

Given that context, what might we expect to see next?

I am glad you asked!

Based on the price action from 2015 we can expect a dip very shortly.

A dip even bigger than what we have seen thus far.

Adding more support to that is the bearish divergence currently being seen on the RSI indicator.

How far can we expect to fall?

Given the similarities to 2015, one might expect to see something like this:

(Source: https://twitter.com/CryptoHornHairs/status/1121853852427476996)

As you can see, back in 2015 when we had this setup, prices dropped about 30% from peak to trough.

If we had something similar happen here, we could expect to see prices down somewhere around $3,900.

Personally, I don't think we will go that low.

However, I do think we could easily see a dip down to the $4,200-4,300 area, possibly all the way to $4k.

I think you want to buy that dip though.

Look at the chart above and pay attention to what happened after that dip in 2015...

It marked the lowest point on the chart for the next 2.5 years and prices ultimately peaked about 60-70x higher.

If we saw something similar, where we went down to $4k and then had a similar rally, we could see prices north of $200,000 and it would happen by the end of 2021.

I am not sure we go that high, but I think we are going to break the old highs during that time frame, and probably by a wide margin.

Stay informed my friend.

-Doc