Yep. The hodlers have a terrible habit of calling anyone that isn't predicting a moon shot, a FUDster... However we can see there is a decent chance they end up being right. I could see $2,000 or maybe even $1,800 but much below that seems like a stretch to me.
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Yeah, it is a stretch, but have you looked at the stoch RSI on the weekly? That thing is like loading a bullet.
During the bear market if the stoch RSI is high and reverses you have a huge dump, while if it's low and goes up the price almost doesn't move,
In the bull market it's the other way around, when low and reverses the price pumps like crazy, and when it goes down the price almost doesn't move...
Now go look at the stoch RSI at the weekly time frame, we've never, during this whole bear market been so high, it's at the max! and the price only pumped like 50%... next week it's going to reverse, last time the price dropped around 65%, a drops of 65% now would put us at around 1100$...
And the other thing that makes me think that it might go that low is the fact that we pumped from 1300 to 3k without even confirming the 1.3k again, which is not a normal thing to happen...
I'm not saying the price will go that low, I'm watching the market and keeping all prices and moves in mind, bullish and bearish, because there are signs of accumulation too atm.. but there are also signs of big wallets dumping their BTC on the people FOMOing in. It's all a matter of waiting this storm out until we see a clear sky
Very good point. At this point I would think all things considered it is pretty close to 50/50 whether the bottom is actually in or not, though I might skew that slightly saying that it is not. Thanks for pointing out a good technical pattern during this bear market regarding the RSI. I hadn't noticed that.