Looking at the charts for today, i believe this dip was absolutely necessary to give us the momentum to push past $8,000. The RSI is retreating quite nicely, and the price has found support around $6,300. I believe we shouldn't go much lower, possibly bounce off $6,000 and hold support there. Although, there is a possibility, rather small though, that we could see a break below $6,000, and if that does happen, we will likely find support somewhere between $4,300 and $5,000. NEVER EVER TRADE WITH EMOTION! If you're long on your positions, sit tight, and if you can afford to, buy up some more at this wonderful discount, and start your DCA (dollar cost averaging). Good luck to all
DISCLAIMER: I AM NOT A FINANCIAL PROFESSIONAL AND THEREFORE CAN NOT GIVE YOU FINANCIAL ADVISE. ALL INFORMATION PRESENTED HERE IS MY OWN OPINION AND SHOULD BE TAKEN AS SUCH. PLEASE DO YOUR RESEARCH BEFORE INVESTING IN ANYTHING.