Frankly it is not looking good at the moment, I would even say it's time to sell, and buy back below 8k. I am pretty sure we are heading towards 7k-ish but hopefully we never go back below 6.4k. If we go back below 6.4 there will be a lot of blood (not like the movie).
Then in the middle term there should be a bounce back above 10k (I hope) but breaking above 11k and most importantly above 12.4k will be very tough.
Just hoping the halving will make things move to our advantage, but the technical analysis is looking very ugly in the short term
You make our current situation sound so dire, Bossian.
Do you remember that on October 25, we had 42% in 12 hours from $7,300 to $10,300, and if we get back to $7,300 over the following month or so (which would bring us to November 25), do you think that we are worse off merely because we went back to the starting point of what had happened in 12 hours?
Well, we gotta get back to $7,300 first, I suppose, but I doubt that the situation is as dire as you are making it out to be, even if we were to get below $6,400. What's so special about $6,400? Remember from April 1, to June 27, we went from $4,200 to $13,880? $6,400 does not even bring us back down to $4,200, but we would have to get down to $6,400 first, and we seem quite a ways off from $6,400, but hey, things happen fast in bitcoinlandia, so I would be prepared to buy, instead of thinking about selling and then end up being wrong in the even that BTC prices were to stop going down... .and surely we see those kinds of things happening in bitcoinlandia.
We have jonoiv still waiting for sub $6k for more than a 6 months, and we have some others who are still hoping for sub $3k, which yeah, they might get lucky, but I would rather be buying on the way down rather than taking some actions (such as selling now) and then regret it later.
I was looking closely yesterday at the technical analysis and it's clear the major support is around 6.4k, that's why this price is scary (for me, I may be wrong), on the other hand the price of 12.4k is very exciting. Of course we can go back above 10k, I hope so.
Frankly, I bought at the worst moment (9.3k), if we go close to 10k I will sell. Because right now I am not confident. BUT after selling everything I got at 10k I will wait for 12.4k. If we pass that price then I buy again even more (won't care about the small lack or earning between 10k and 12.4k because it won't matter much. I will feel much better and safer in selling at 10k and then wait, because above 12.4k it's basically free money (strong resistance). If we pass 12.4k then the long term trend is looking crazy good. My personal opinion of course
best of luck to us.