In response to lebing, As you are obviously a bit bullish, perhaps the burden of proof during this price decline is for you to prove to us, why we should start thinking the price will stop going down, and start going up? Something more helpful than an imaginary line would be nice!
Well, I dont make bets on short term movements with bitcoin generally speaking, but time has shown repeatedly just how dangerous it is to bet against bitcoin in the medium/ long term.
The reason why I think this line will hold is simply because its a very different world for bitcoin now than it was 6 months ago in terms of acceptance/ consciousness and overall momentum (The details have been repeated ad infitum elsewhere). Therefore it simply makes more sense from a fundamental perspective that it would continue to go up rather than down. There is simply no reason fundamentally why we should continue to go down. The correction from the bad news on China is already very much baked in imo.