I know it sounds impossible. But any chance to see 1-2k?? I have cash lying around and I seriously would go all in on these levels.
That would be dumb to wait for that price level.
Not even after 30 years, I guess.
I think by this time, it will hit again below $5,000... If it strikes the $7,000 during 1st week of October then the possibility of having a Pump will be a slight crucial. The much possibility is it will go down deeper. So, gonna stick with $5,000 and expect nothing more.
Well, you are likely correct, cabalism that when the BTC price goes down in several legs, taking us to nearly 45% retracement with the current local low of $7,734, then those lower prices become more possible, and we cannot presume an immediate reversal of the price momentum.
Bears (or maybe more properly referred to as bearwhales) are going to attempt to keep BTC's price going down as long as they still have momentum, and when we are still only a few percentage above $7,734, then we cannot rest assured that the bottom is "in". I feel a lot more comfortable when the price has corrected 15% or 20% from the local bottom before I might to resume thinking about "up." So, yeah, getting above $9k or so would be a good sign.
I am NOT sure about what level of down is reasonable, and surely, even a spike down to $5k would not necessarily take us out of our bull market, unless the BTC price sustainably stays below $7k or even $6k for a prolonged time. $7k is just a bit above a 50% retracement... which would be a bit much of a retracement, except if it was merely just a flash crash sort of happening.
I hate to put odds on various happenings, but getting below $6k would still seem to be less than 50/50 odds, in my thinking because that would more than 55% retracement. Never say never in BTC-landia, but a 55% retracement seems a bit much, and surely would contribute to shaking a lot of weak hands - if that price is successfully cared out.
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