Quote from: Herbert2020 on November 16, 2018, 06:27:10 AM

Quote from: fabiorem on November 16, 2018, 12:14:29 AM

Quote from: figmentofmyass on November 15, 2018, 08:52:20 PM

$3000 seems pretty logical. if the current bounce ends as a lower high and the dump continues, we should form a pretty strong bearish trend. $3k is a major support level from 2017. lots of bulls will be waiting to buy there.

True. $3k is the price from August 1st, 2017. It was when BTC was forked, for the first time.

not really! you can never predict these things. if the dumping pressure on the market continues then the final bottom can be literary any number. there is no reason for it to stop at $3k just because it was the price at some arbitrary time in the past.
all we know for sure right now is that the large scale dumping so far couple only push price in $5k levels and failed to push it any lower. and also right now price is BELOW the real bottom.

I believe anything that possibly manages to make us get lower than $3000 will not last as there would be a very huge bounce from there.

Nonetheless, I am not always bothered about the future in most cases though, what is important right now is to always see the market as an opportunity to be buying as much as you can or as long as you have some free cash to spare, or just be patient if you do not, and if you can trade, it even makes it a whole lot interesting I must say. As long as it is a dip, there is always one thought that comes to mind, and that is BUY!