I don't think it is a convincing breakout to the downside yet. It is too fast (time wise) to call that yet and the move is likely electronic stops being triggered and it has not gone past the Sep 17 low convincingly. It could easily be down to simple price manipulation when in such low volume sideways trading (see my comment to
@adonisabril). Time will tell as always. If it breaks down past 5200 with high volume confirmation then there is no telling how low it can go.
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Convincing breakouts usually happen fast...maybe it was manipulation at first but this is a cascade of retail dumping here. Also not sure why 5200 is the level? 4800 would be the next stop IMO which coincides with an 80% drawdawn from top to bottom that has happen over 6 times in bitcoins history and this will be the seventh
Yes seems that way now. Steem seem to be dropping faster and further as well.