What if $30,000 is the new $6300 of Nov 13, 2018? I suspect you would have also thought Bitcoin was extremely oversold then - being 67% below its ATH.
Bottom line: If the Bitcoin market is heavily manipulated (as it appears to be), then the price will go wherever the manipulators want it to go (within reason). And I’m convinced they want it to go to $10,000 ± $2,000 — sooner rather than later. That target is a bounce off the lower parabolic curve that has supported Bitcoin’s price for 12 years. (Search for “BLX”.)
Peace brother! Unfortunately, the world is not becoming better.
deci8el
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@Bullbearish, it's going to be a competition between whales in the end... if there was a large whale cabal, then yes, they'd benefit most by dropping the price, but if a large enough number of them close those shorts (watch BTCUSDSHORTS), then we might be heading back earlier than the 3k of 2018. I like you're view of this being the halfway point of the drop though. Very tentatively trading longs right now.
xhunter
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@Bullbearish, we had months of sideways accumulation at 10-12k range prior to bull leg up. Bitcoin is not going back down there if you already missed the train. I agree with @TeamDoubleBottom opinion. I'm thinking marginal breaking of the support so that people will panic sell to whales' hands + they trap shorts like how they did at 3k's. Expecting 28k at most.
TeamDoubleBottom
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@Bullbearish, Idk i don't think is possible to go back again at $10,000. I mean historicaly we never back and retest ATH or even broke it. I can be wrong but i think is most likely to bounce from here. Let's see buddy
CryptoBruceW
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30.000 is the new 10k so i will buy btc at 15-20k zone
TeamDoubleBottom
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@CryptoBruceW, nah we are at 1.68 fib at monthly. Previous cycles we bounce exactly on it, if we continue hold 30 keks i will be super bullish.
TitoLibido
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No doubt. If your timeframe is 5+ years you will do very well. That, and 30s is a great buy compared to 65k even though the 65k longs will be deep in profit a few years down the road.
Bottom line: If the Bitcoin market is heavily manipulated (as it appears to be), then the price will go wherever the manipulators want it to go (within reason). And I’m convinced they want it to go to $10,000 ± $2,000 — sooner rather than later. That target is a bounce off the lower parabolic curve that has supported Bitcoin’s price for 12 years. (Search for “BLX”.)
Peace brother! Unfortunately, the world is not becoming better.