It bugs me that I was too early with the final capitulation last week. Now all the signs are the more prevalent. Hitting a low repeatedly in subsequent days without one massive flashcrash with massive volume was a typical for
the last one. (
Cf. now).
The bottom was 62% of the last stable level (note: fibonacci ratio). If the stability level this time is 640, the bottom would be seen at about 400. Indeed, next week of oscillation full of fear between 400-480 would be perfect for shaking out every single remaining weak hand and pave the way for continued gains (
last time chart shown for reference

):
1 month = +50%
2 months = +100%
3 months = +100%
4 months = +400%
5 months = +1000%.
Ah, but everywhere you look the prognosticators are saying down down down. A breach if 380 sends us into a death spiral they say. Bid sums drying up. Everyone taking their money off exchanges. China drying up. No new fiat, no new excitement as mainstream investors already know about Bitcoin.
No good news reactions only bad new reactions are a clear symptom of this they say. This could go on indefinitely they say.
Are they correct?