Quote from: dr blowfin on July 11, 2018, 08:49:59 AM

The last time I listened to Tone Vays he was talking about $1300. So $4975 doesn't sound so bad.

As a bottom price that is nothing because the bottom is usually quite brief and not traded by a vast amount of people. Just a spike down to 4975 as a reversal would be not be a big deal. It really depends on how it reaches that price.

If we gradually descend then I see the upwards movement after as being much slower also. I was actually expecting a lower price but also a short duration so not as quite as bearish as just reading the number alone. I think the context of the price movement probably matters even more