Post
Topic
Board Speculation
Re: A move (almost) no one is expecting: gap at $11795
by
figmentofmyass
on 26/07/2020, 19:01:37 UTC
Looks like this scenario could still play out, I confess I considered this one to be invalid a bit too early. With today's move and the RSI reaching a new high, my point (B) (still in a downtrend) could reach around $12k, it is very convenient there is this gap on the exchange market.
After this price there should be a dump at least to $8.5k and my most preferred target is around $6.5k. At that price one should consider to invest big.
My opinion.

i don't see the market hitting $12k+ only to go straight back to the $6000s. bull markets are not ordinarily so forgiving to sellers.

maybe you'll get a retest of $10k---that would be logical. the market will want to see it confirmed as support on the way up. i'm pretty confident that's the lowest you'll see after a move like that though.