Quote from: exstasie on October 31, 2019, 06:06:12 PM

Quote from: dragonvslinux on October 31, 2019, 05:48:25 PM

Maybe everything will be fine and we are just going through the bullish correction at the moment, another accumulation stage before continued bull run.
Either that or $6K is coming if we break the 100 Week Moving Average. Bouncing off the 200 Day MA is a good sign though!
I think either way very soon we will find out where price is heading.

A spring off the 200-day MA to new highs would be a very obvious bullish confirmation for classical technicians. Fakeout below and spring back above.....a classic shakeout!

I really don't think $6K is coming, though we can't close the book on it yet.

Considering bitcoin has passed the bear market in May this year when it rises from $3k-$4K to $8K in June and be able to reach $13K in July. If we take a look at the big picture, whenever bitcoin enter a bull market, then it will stay in a bull market for the next two years to the next ATH like happened in 2012-2014 and 2015-2017. We're seeing bitcoin doing bounce attempt after far a little bit under $9K whether it can break above $9500 level, that's what I'm waiting for to add a long position.