Quote from: mikeywith on March 13, 2020, 09:00:37 PM

Quote from: fabiorem on March 13, 2020, 06:26:04 PM

Dead cat bounce, bitcoin is going back to $3k. Small traders are selling now.
Its not panic, people want to buy cheaper after Peter Brandt prediction.

Prices don't usually go to where the average joe has placed their orders, and now that most people are expecting an exact 3k or 3.2k as it is the only major support below the 200MA, chances are we will not dip to that level again, and if so happens then we will also more likely go lower.

it's a classic phenomenon: the crowd waits for $3k, price comes sorta close but reverses hard before getting there, then they are all left waiting and coinless. this is what happened at the end of the 2015 bear market.

the "manipulators" if they exist are betting on this. they know all those people will end up buying their bags at $6k, $8k, etc instead of buying low at $3k. or like you said, the market will run straight through $3k (like it did to $6k last year) and punish all those people trading the "obvious" support level.

markets can be such a mindfuck!