Last November 4th you had left open two possible scenarios
Now, after the last and decisive market movements, I see that you have chosen for the corrective hypothesis?
Do not you think that it can be a false correction to blow up many open positions, and from now on will simply make a series of ups and downs for a few months, exhausting even more investors, holders and mining farms?
Do not you think that a market and a coin that falls for three consecutive years can completely die, and never recover again?
The following are approx key support zones upcoming on BITFINEX:
$3270, $2650, $2150, $1650
It is possible the Bitcoin market finds support at any of the aforementioned levels, and then can commence a cyclical (i.e. short-term) bull market within an overall secular (i.e. long-term) bear market, termed as a wave-x under Elliott Wave nomenclature. However, a break below $1200 would rule out a possibility of a wave-x bull market, and prices would likely then dwindle to sub $1000.
For now, its suffice to say, the low of 2018 will likely occur towards the end of 2018, and there is still 1 month left to end 2018.