You want my opinion... well, I see another leg down, to where I'm not certain, but I can see us going to 1.3k before we reverse, it sounds a little hard, yes, but it would mimic 2015 to the fib...
I can also see us going to 2.2k mainly because it's an algo target, and so the bots are pulling us there.
There are many traders with decades of experience in the stock market saying 1100$ and being called fudsters and crazy, but if you go and do the fibs and you go and watch other hyperwaves it all agrees with them, atm I'm watching for the same trendline that you are, waiting for a market decision.
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 $1,800 but much below that seems like a stretch to me.
Yeah, it is a stretch, but have you looked at the stoch RSI on the weekly? That thing is like loading a bullet.
During the bear market if the stoch RSI is high and reverses you have a huge dump, while if it's low and goes up the price almost doesn't move,
In the bull market it's the other way around, when low and reverses the price pumps like crazy, and when it goes down the price almost doesn't move...
Now go look at the stoch RSI at the weekly time frame, we've never, during this whole bear market been so high, it's at the max! and the price only pumped like 50%... next week it's going to reverse, last time the price dropped around 65%, a drops of 65% now would put us at around 1100$...
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.
I personally don’t think we will have another lower low but of course it is possible.
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let's wait and see... I have a few possible scenarios in mind, I'm just waiting for at least a little confirmation before actually buying in, could this be the bottom? Maybe, but so far I see no good indicator telling me that. I'm just shilling with my money on coinbase waiting to buy back in... Trading made me very patient, I was able to wait for almost 2 months for the 6k-3k drop, or at least for a confirmation that it wasn't going to happen xD Now I'm waiting for the confirmation that we are going lower, and that stoch RSI on the weekly makes me like 80% sure of that.