Since the current crash is the 2nd largest one in bitcoin history behind Mt. Gox. there is no better comparison to the current situation than Mt. Gox.
It would be quite bizarre for all of this to suddenly come to an end after bouncing from 6400
Just as it was in Mt. Gox crash, I expect bitcoin to hit the true bottom and move sideways for a long time before gradually going up.
As for the final bottom, I'm expecting sideways movement between 4k and 6k.
I think the chart speaks for itself.
I've marked the comparable spots with blue stars
P.S.
A few things I've taken into account
1) The current progression seems to be about 2x faster
2) The upcoming G20 announcement and the resulting FUD in June, July
I'd love to hear your feedback/opinion.
It would be quite bizarre for all of this to suddenly come to an end after bouncing from 6400
Just as it was in Mt. Gox crash, I expect bitcoin to hit the true bottom and move sideways for a long time before gradually going up.
As for the final bottom, I'm expecting sideways movement between 4k and 6k.
I think the chart speaks for itself.
I've marked the comparable spots with blue stars
P.S.
A few things I've taken into account
1) The current progression seems to be about 2x faster
2) The upcoming G20 announcement and the resulting FUD in June, July
I'd love to hear your feedback/opinion.