If the market pushes below the 3200 USD level, and then fails to break back up with volume, I expect the market to fade down until suddenly momentum/volume spikes and price starts dropping. News would set in and spread panic, getting all the last on-the-fence investors of any cyrptocurreny to close their positions and expect the price to continue dropping. When every agrees the price is tanking, the price will spike back up and will possibly signal the end of the bear market. This could be a volume-crazy drop to just around 3k, but otherwise a drop to $2400, $1180, or possibly even $800 for a moment is not unforeseeable.
For the instant the market is breathing, but on the daily chart we are preparing for a storm. Get those low-price buy orders in!
For the instant the market is breathing, but on the daily chart we are preparing for a storm. Get those low-price buy orders in!