Quote from: magneto on September 11, 2018, 11:29:24 PM

Quote from: dennisch123 on September 02, 2018, 06:52:20 AM

RSI at 62, major trend lines crossing soon around $7600, then a dip to $6500 and then moon?

That's what this article says: https://www.cryptonewsinc.com/a-bullish-start-of-september-for-bitcoin-will-it-last/

Agree or disagree?

The prediction about the dip was pretty accurate. At the time, I expected that to happen as well, even though some people within the market thought that it was going to be a long term trend reversal.

I probably disagree with the prediction regarding the rebound, however.

Personally, it's more likely at this point to see prices continue to dip until a new bottom is found or $6k support is tested again, compared to prices going straight up "to the moon". With such bearish sentiments still remaining in the market, it's almost impossible for a bull market to emerge at this stage. Expect sideways movements and small corrections in the next few months.

Yeah! And so far so good, we have traded below the $6500 region for some days now and I certainly believe that an bounce from here at all would likely be a short term bounce as long as we are still below the trend line and based on the falling wedge, the chances of the market going a little bit lower than where we are presently is kind of certain, but we will get to see over time. Any break below $5860 should definitely be sending us quickly to as low as $5k or a bit lower.