I'd be fully prepared for a jump back to 5k8 but I dare say that rally will fail. If it happens and does fail, we're most likely gonna be going back to looking for support around 4k8.
If that support fails, it's back to the 4k range.
If that fails.. Welll.... I'd expect a 2k8 BITTREX:BTCUSD within months.
Support Levels I believe that would need to...
Not looking so good for btc... I guess that's what happens when 80% of the supply is in control of 0.1% of the population... Creates an on-boarding bottleneck which mess with price stability.. The block-halving mechanism used for the inflation model and ultimately the building blocks of crypto's incentive model, is flawed.
Coins need to use a sigmoid function...
We've recovered and showing some pretty grinding support. if it holds and breaks resistance @ 6k5, I can see it trying to make a dash for my second target which I had postponed until now.
Waiting on confirmation of the 6k5 region to be tested and beaten.