![Overbought & Oversold.png](https://cdn.steemitimages.com/DQmNUfUqcV8PBqiQKkrkcfpgJSUeoSRo6GxW5ATmi7RqCms/Overbought%20&%20Oversold.png)

A pull back today just means the price is overbought and nothing more then that.

Over the last few days we have seen increases in prices of 20% or higher which is nearly unheard of in the stock market unless you get really lucky.

It is no wonder why today is seeing a bit of a sell off as people collect some of their profits and well that is ok!

The overall pressure of bitcoin and cryptocurrency remains bullish. There are more projects, more developers and more use cases then ever and it continues to grow.

This pull back could possibly be an amazing time to pick up some crypto for a discount and hold long term.

**Again I always have to say this for legal reasons. This is my own opinion and not professional advice please do your own research and/or seek professional financial advice before investing.

With that said what could also happen at the moment is an oversold just like we had an over bought. This is where you take your feelings out of trading.

When everyone panic sells that is almost 100% of the time a perfect buying op as the price will go back up given time. This could be used for quick buy and sells but for myself I like the Buy on a dip/oversold and hold long 1 year +

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