Quote from: error08 on October 31, 2019, 10:55:49 PM

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

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.

Just because it happened a couple times before doesn't mean it'll happen again.

It's possible the run to the $13,000s was a bull trap in a long term bear market that began in December 2017 and hasn't ended yet. That's sgbett's opinion: https://bitcointalk.org/index.php?topic=2541338.msg52818259#msg52818259

It's also possible the 2019 rally was a short-lived, truncated fifth wave and we're entering a new bearish supercycle. That's xxxx123abcxxxx's alternative scenario: https://bitcointalk.org/index.php?topic=5128394.msg52880531#msg52880531