Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
Majormax
on 22/05/2018, 23:55:04 UTC
Are we going to re-test $6,000? :/


The trend is down, and needs a proper base to reverse. If it can happen quickly , then the bounce might be more substantial. However my fear is that the slow bleed takes a few months, and would then turn into an extended bear market. Slope of Hope. That scenario indicates the 2500 low is possible in 2 years.

The alternative is a quick carnage in a drop to 5500-6000 (within a month , say) and a proper floor established there. Optimistic case is the new uptrend can make 15k inside a year.

The conclusion is we don't want a weak rise right from here.