The bad news: BTC
is bombing and showing every sign of a classic bubble burst. The good news: it's happening very quickly. The current trend channel (likely a falling wedge
reversal) closes a little below 3k, which is where I will look to buy again. Often, there is a break out before the absolute close, so I will look at bit above around 4k. Below 4k mining will not be profitable to anyone with the current number of miners and difficulty. Historically, BTC
bottom has been around the cost to mine a coin. No mining, no blockchain. If trend channel violated below, I still think 4k is a spot I will look to enter. If the trend is broken out earlier, I will watch carefully.