18 months average 1st lower price deviation level is at 4200$, providing support; as i said I expect the next bottom to fall inside the 4200-5500 usd price range.
About Europe, the new AML V directive (jan 2020) is not good news, the authorities have decided to crack down on the bitcoin trying to kill its ecosystem with colossal legal burdens for all those who want to enter this business, sad news.
The next step will probably be to make illegal any anonymous detention of bitcoin even for private individuals, IMO anything outside the banking system will not be tolerated, the original vision of Satoshi Nakamoto is at risk.
should 6400 be the confirmed minimum it would still be within the error bands of the above model.
We're here because one crazy person in 2008 thought that we need a way to transfer value over the internet without any intermediary, because the current system is broken beyond repair. Few years later, bitcoin price skyrockets and people from the intermediary sector said, we think think we can help bitcoin adotion, and that's when we kissed the devil ass (KYC, AML, futures etc).
Not saying we're fucked, but we (the crypto-community) need to figure out what we want. Do we really want these intermediaries we fought against to control this wonderful technologoy ?