Quote from: gabmen on September 17, 2018, 05:50:43 PM

Unfavorable though very unlikely. As unlkely as the price hitting 20k. A lot of people would be all too eager to buy when the price goes below 6k the same way people are shorting when the price spikes up.

I'm with you on the overall idea.....price probably won't go as high as bulls think, nor as low as bears think. Markets like to disappoint as many people as possible. Grin

That's a good overall truism about market psychology.

But I disagree with this idea that bulls are "eager to buy" on lower lows. Bulls have been buying this $6,000 area for many months now. I've seen many ranges break in both directions in this market. If bears force a new low and bulls don't immediately retake the lost ground, it could be a sign that demand at these levels is exhausted. All I know is the sideways will break when demand is gone (and we drop) or supply is gone (and we rise). Then I can start trading BTCUSD again.