Quote from: pooya87 on March 17, 2019, 04:31:14 AM

Quote from: exstasie on March 16, 2019, 10:08:18 PM

Quote from: 1Referee on March 16, 2019, 09:45:03 PM

Always make sure to have a bunch of fiat ready to put in action would the price tank hard. One last high volume flash crash wick could signal an actual bottom that people on a large scale would agree on that it is a bottom. People focus on double bottoms, v bottoms, etc. It could speed up recovery if so. Currently people are still in doubt due to how ugly the charts look.

For good reason too. Even if we do another leg up to $5K+ it could easily be a bull trap like late 2014. Without a clear reversal sign (like the high volume V-bottom in January 2015) it's only sensible to assume the bear trend will continue a good % of the time. That's why we call them trends.

but a rise like that (to $5k) can effectively mean the start of the bull run as all of those investors who are currently waiting on the sidelines with their money to see a sign before they jump on board will do it when they see such a rise. i don't think we really need a "V-bottom" as you say, for the rise to begin.

Nobody said we need a V-bottom. But a V-bottom would actually signify the bottom is in. Right now we have zero signals the bottom is in so it's a really dumb assumption.

Going to $5K doesn't mean anything, certainly not the start of a bull market. That could just be the top of long term trading range or the top of a bull trap. See November 2014 for a potentially similar move. People will think it's the start of a bull market and then get bull trapped.