Quote from: El duderino_ on January 03, 2020, 05:13:49 PM

^
Thats an ugly M, do you mind to stretch out, wanna see what happens next in your thoughts Roll Eyes

This was the original forecast....

Quote from: sgbett on February 06, 2018, 12:54:45 PM

Quote from: junoreactor on February 06, 2018, 08:13:12 AM

Looks like there is a support (sort of) right now at $6,000, let's see if it lasts as long as the previous support at $7,500.
It has a little bit bounced back up to $6150 but this is exactly what happened few days ago.
What's strange is that everything is down, crypto currencies but also Wall Street?
Where's the money going right now? Gold?

Yes support at ~$6000! This is eerily the same as first bounce from MtGox (around 68% - fibonacci anyone Wink

). Which inevitably begs the question what what that Goxtrapolate to...

So here we have the gox collapse in broad strokes with the lower highs and lower lows to the bottom.

Assuming the initial sell-offs are correlated in magnitude, we can see that this market is playing out slower - expected as its bigger. Approx 2.8 times slower to be exact.

If we plug the % moves, and the duration (x2.83) into the current ATH we get a *very* simplistic picture of what would happen if this plays out like gox.

Note: I don't think it necessarily will, but I have been thinking $4100 for the absolute long term bottom was looking a bit optimistic considering how for this first move went.

suggested bottom would be around $2400, roughly Feb 2021.

It's not something I would recommend anyone try to trade, its just speculation as to how group psychology might play out.