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Cup from 2014-2017 was twice as long as the cup from 2011-2012.
As long as we stay above the channel, bitcoin remains bullish.
Lowest I see it going and staying within the channel is $5000-$5700
Current Position: Neutral (Cash Position)
Reasons for a bottom:
(1) Stacked orderbooks - data.bitcoinity.org
(2) Institutional money buying up fear (retail market trying to sell down price)
(3) Bitcoin Mining Price Break-Even = $6900
If this truly is a bottom - I expect the price to consolidate around this zone ($6900-$7500) for a few...