If this drops much further, I am going to have to concede that we are in a 2014 scenario rather than a 2013 scenario...
What ? You really still think the 2013 scenario is possible ?
You snipped out part of my post in which I attempted to assert that I am possibly coming over to your side, but I am not going to come easily.
Surely, it was disappointed to see $5,800 support break, but the reasons are not bitcoin specific, but still I understand that some of the broader cryptospace can pull BTC prices down, due to froth in the space... but I am still not going to give in and to assume 1-2 years in the doldrums, which a 2014 scenario might reasonably presume.
In other words, yeah.. no two corrections are alike, and I am not even conceding bear market yet, even though bear maket would kind of put us into further downward trajectory, like you suggested into the below $3k arena... which I surely have my doubts that we are going there.. but I might be willing to concede if this current situation does not bounce back sufficiently in the coming weeks.
I know we read the charts differently, but surely the 2014 was already confirmed by the length and shape of the downtrend ? This latest plunge just hammers it home.
O.k. We read differently, and I don't concede that a previous pattern implies the next pattern either in duration nor in intensity... especially when the way up was different in this 2017 one, too. In other words, you cannot just begin from the downward point, you have to consider both the upwards slope that got to the top and the downward slope, not just one side of it.
I want to see a bounce, I hope for recovery soon, but the realist in me is hunkered down for a 3 year winter.
I concede that odds are higher in your direction now, but I am not going to give in, yet.