To answer the question as to how people are coming up with $6200 BTC . If we just finished the second wave(leg 3 and 4) and heading up on third wave(leg 5) going to the Fibonacci 2.618 Level
To be clear I am NOT saying this is necessarily what I think will happen. I am thinking we could test the $3000 level again. Actually hoping we do as for some stupid reason I cancelled my $2950 - $3150 buy level orders on thur night and only had the $2850 in place, so i missed the $2917 dip.
We are still in the descending pattern until we break out of that we will continue to trend down.
If we test $3000 and it fails, $2500 all the way down to $1500 - $1800 are possibilities, I think those are less likely, but just buyer beware.