Yes I do, although there will probably be some disagreement over use of the word "dump." In the bigger picture, it will probably be viewed as a "pullback" or "correction" instead.
This is my general idea:
A 50-62% retracement would be typical, although it doesn't need to go that deep.
This is my general idea:
A 50-62% retracement would be typical, although it doesn't need to go that deep.
that's a huuugee dip. I'm happy we are matching with our forecast. But I think it will be VERY difficult to go under 8.5k. The majority of people who are buying now, will not sell, so that will make support level rise from the previews one due to less supply. It could definitely be a sideways correction instead, like a dip to the 0.382 that flags out. A "time" correction rather than a "price" correction, you might call it.
I'll say this though. That feeling of "it can't go below x price, it's just too bullish!".....my experience is, when you get that feeling, get ready to see sub-x prices.
I'm not sure I'd call the upper $7,000s likely, but very possible. It's good to keep in mind. xxxx123abcxxxx is seeing the same thing from another perspective:
