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.
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.
I'm not sure where I pulled this $6500 from now that I think about it. I must've felt bullish at the time
$6800 was crucial and once that gets broken it could just as well go to $6000 - $5800, heck even $5100 would be possible.
What bothers me right now is that all the alts are dropping while bitcoin is remaining stable in the $6100-$6300 range.
The reason if bothers me is because what IF bitcoin does crash to $5000, what affect would that have on all those alts....
EDIT:
Had to revisit that article, now i see where this $6500 comes from, it's at the end of this narrowing triangle where the lines cross, so eventually that could still be the point where it eventually breaks out, right now that line is at $6100-$6200, but it's a ascending line.