we have broken down through the medium term support line
this could just be the mother of all bear traps...or things could get really ugly
You like a little drama in your posts?
Seems as if you are exaggerating a bit.
Look, we were just at these price points a week ago (which is a 15% correction), and it would not be unreasonable to have a 30% or more correction. I have my doubts about a 50% correction, but sometimes, momentum has it's own effect, and sure as fuck, bitcoin likes to overshoot expectations, no? We are not beyond overshooting, but there is no need to exaggerate and to act like there is some kind of doom and gloom going on in bitcoin at this time, and there seems to be considerable and ongoing buying support, at this level and at lower levels, if we go there.
NO need to panic yet, boys and girl.
We both know that bitcoin always has the potential to lose on the order of 40% of its value in a matter of days. It has happened many times in the past and yes, I have found it rather dramatic when it happened. Were it to do that now it would put us under 3000 USD. Such an event would not shake my faith in the long term exponential bull, but newcomers to the space should be aware of the possibility.