I went back, I may have overlooked the # of hours. Something I learned from Boulder about 1 hour trends. Atm the 1 hour shows about 100 hours of a down cycle. I don't know Bitcoind characteristics. All are unique in some sense. I'm learning the cycle has a decent chance of turning after 50+ hours. Also looking at the 4h that is well below the 50. Taking this into consideration and a normal retrace. Bitcoin has a chance to bounce to the 8k area. I know this sounds wishy washy. I'm just telling what I see. I don't have a clue what the future holds. Atm a double top and a double bottom is visible. I still hold out for a 3k Bitcoin. It may take lots of turns before. I will change 3k when I see evidence that differs.
I watched the video from @thecryptosniper who was talking about $3k level, too. Are you serious?
Looks like 7900/8k will be challenged to me. 3k Is where I thought it may end up in last December or January. I don't believe some of the stuff I see because the % of the moves are unbelievable. This is all foreign to me. I have never witnessed anything like this % wise. I treat everything in 1/2s or times 2. So take my 3 k with a grain of salt. Actually a lower low, points to a negative #. that's impossible. 3k isn't impossible, It hasn't made a lower low just yet. I don't know if it will. These % moves are above my paygrade. But I can divide any number or double them too. Doing this points to the possibility of that lower low. And a lower low points to a sub 0 number. This wont happen, 0 is the lowest it will go. So I could imagine 3k is a place it may go. Take out the lows of 2018 and its a good shot. Don't be fooled by a bounce after the lows are taken out. I went out on a limb weeks back. Time will show.
I was hoping that 3k might come after new higher highs predicted this year. But, probably, this is a good time to test this level now. As a big whale I would do the same - push the price down and buy it as cheap as possible. Would be interesting to see how it goes.
Just saw steem drop to $2.5 again...
I wish it could drop to $1, so that I can buy it. 🙄
Amen