This dip might look really juicy, but wait for buy signals before going in

These are good prices to enter at, but for your own good, wait at least one day to see what happens. I was going to buy in this evening, but I decided to do some more reading and saw that this Evergrande panic is not only happening now, but will go into full force soon. Evergrande's loan payment is due on the sept 23rd, and they have publicly stated they cannot guarantee they can repay it.

If the CCP does not bail them out, it will have a snowball effect on other companies, creating a staggering amount of liquidations. This could result in significant drops in cryptocurrency prices over time.

Already more than $1 billion was liquidated in this 24 hour period, bringing the total liquidation in 48 hours to more than $2.5 billion.

Furthermore, the Chinese exchanges will open at 6:30 p.m. PST. You may notice a significant drop at that point, which may or may not worsen as their trading day progresses. The panic will hit us then.

Right now we don’t know how far we are going to slide. It is a huge risk to hold the bag while big whales dump on us. It might be wisest to liquidate before China markets open, and DCA once we start seeing some real buy signals and not just dead cat bounces. Unless you have f u money please make sure you have enough fiat to ride the wave til the next rent bill.

What’s my next move? DCA little by little and keep a close eye on the trading volume.

Stay safe, everyone, and let's hope we recover quickly...

This is just speculation and not financial advice