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:
https://i.imgur.com/yD47pOA.png
A 50-62% retracement would be typical, although it doesn't need to go that deep.
This is my general idea:
https://i.imgur.com/yD47pOA.png
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:
I am waiting for the pullback to get some more money in, I would be very happy if it goes to 7k before recovering but there are a freacking ton of buying orders at 9,2k, a ton at 9k and another ton at 8,8k, is very hard for me to imaging a pullback to 8-8,2k, in fact I have the order at 9075 and thinking if I should put it higher.
But I am very new to bitcoin, more used to classical values. Wouldn't be going under 8,8k as surprising as seems to me? should I get used to randomly see that kind of pullbacks in bitcoin? the pullbacks I have seen this weeks weren't that strong.