Where's the bottom of this drop

[thecodebear]

To be back on topic we might have seen the bottom at ~$7280 range and with that one hell of a spike and $7500 being built up higher and higher of a wall we meet be at a floor.

Yeah looking at the charts since Bitcoin hit its low under 6000 back in early Feb the bottom trend line is right around or under 7000. So I think it is likely that the $72xx we hit this morning was the bottom of this drop. If it breaks down into the 6000s that will signal a change in a months long pattern. We're at the bottom of a technical flag now. With the top around 9000. So at the very last we should see a move back up at least $1000 as the next major move. After that the price could fall back to the low end of this closing wedge (back to current levels), or could have a bullish breakout and go back to test $10k resistance again.

[1715464976]

1715464976

[gabmen]

Anyone calling the bottom?  I can see this hitting 6500-7000 before reversing back to 9-10k, at this point I'm not sure if selling and re-buying on the following dip is best or if this will rally well past 10k.  getting antsy but being patient and adding on where I can.

Lol. Getting antsy with such a minor fluctuation? Who knows where the bottom would be. There's been a lot of speculation and predictions about that when btc started dropping by he end of december and i don't get why people aren't tired of making their own predictions. You have to look well beyond a 6 month hold here to really see progress.

[Slow death]

 I can see this hitting 6500-7000...

So you have a crystal ball? Just kidding.
about your prediction I just have to say that we have to be more optimistic

once 6K is broken (which looks likely now), next will be around 3K.

 

Are you making this prediction based on what? because a price drop like this one you're saying is something big, but very big, so I suppose you have some reason to make such a forecast, so what is this reason?

$5436

reason?

[barota]

prices are not stable at all
i think the bottom will be , between  4000 - 5000 next weeks

[drachman]

Anyone calling the bottom?  I can see this hitting 6500-7000 before reversing back to 9-10k, at this point I'm not sure if selling and re-buying on the following dip is best or if this will rally well past 10k.  getting antsy but being patient and adding on where I can.

The price that you are predicting seems to be too low to me, I really do not think that this is going to be a big decrease in the price, so I really do not see any point of trying to make some move to try to take advantage of this, just hold and after a few days or weeks everything will go back to normal, do not risk earning a few dollars but risk the possibility of losing the chance of earning a lot of money in the long term.

[onrise]

I think it's very difficult to identify the bottom, predicting $3000 per bitcoin look more a disaster and discouraging as it may damage the market reputation.

You are struck with 3k only or so and due to this you will never be buying at this rate as it is a good buying opportunity. Also it will probably not reach 3k in coming time and so you will have to wait if you struck at that range as your buying opportunity.

[Altcoins enthusiast]

I think buy at this level we are now might be too risky and you might need to still hold as the bearish momentum is still very high and the bottom may be around $6,000. We have not gotten any other set up than $6,000 and also it might not fall to that level at all.  I think we are going to have another test of $12,250 when this bearish market is over.