My buy point is defenetly between 1600-1800 USD.
You never know my friend.
....and neither does anyone else here.
true
but wouldn't recommend that
1600s possible though
but under 1600 "highly unlikely"
I am not sure about the odds.
Let's say that the current range is between approximately $1950 and and $2,300.
maybe to odds for breaking down are 45% and 55% for up? but then if we break down, then how far down will it go? greater odds against it the further down that you go.
In theory, you should have already bought a decent amount of coins on these first two downward legs, so waiting for more down before you buy more is not a bad idea. But if you have not bought, and you are waiting, you might get left behind, no? [insert running after the train.gif]
In the event this goes 1.7k and then 1.2k, what future or top would come next vs. a breakout to 3.5k or 5k now? Would it mean an even larger top or a possible death?
What do you think?
Some of us are skeptical about the genuineness of the questions of newbie accounts.
For now, I am going to assume that you are not trolling.. welcome to the forum.
Well, yes, regarding your questions, if the price breaks below $1850 to $1900 then the next area of support would likely be in the $1500 to $1600 area.. and if it breaks below $1500 then the next area of support would be $1200 to $1300... ..
So, in your question, you are asking about a break down to $1200, and that is not at all bearish.
Remember, it seems like a long time ago, but we were just at $1200 - about a month ago. So, yeah, it is no way bearish to return to $1200.. the same is true about $890, we could return to those seemingly low level price levels and still be in an overall bulltrend.... remember we moved from $250 to $2760 in about 20 months.
Regarding breaking out to $3k, it becomes more delayed the lower the correction. At this time, we have not experienced the correction beyond $1850, so it seems a bit premature to talk about what if $3k to $5k in the event of more correction.
We have to see how one leg plays out before predicting the next leg... so yeah, the greater the correction the more likely that more resistance will form at different levels... We have to play these step by step, because we cannot necessarily predict all of the legs, but when one leg happens, then we can attempt to predict the probabilities of the next leg - in either direction... and at the moment up seems more likely than down, but if we go down, then up becomes less and less likely... there is no exact answers, but just a bunch of probabilities that are strung upon each other.
I understand the skepticism and thanks for the reply. Much appreciated. No trolling here, genuine questions only. I was asking about a breakout now before further corrections. Lets say if this is the last leg before a pattern completes around 2K we would be able to predict a breakout sometime shortly after 2300 and likely predict a top. More my question was regarding the health of Bitcoin and if we did see such low corrections and how that might look for its future.
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