Im not saying there are high possibilities of seeing these low prices... but the possibilities are there, im just applying technical analysis. Fundamental analysis is higher on the hierarchy for me than any TA, so any news or possitive developments could make the price go up against any TA predictions.
Why I saw it's realistic we could see lower prices, because we have a mixture of 2 things:
1) A bunch of idiots holding Bitcoin whose don't know what Bitcoin is and are just waiting for it to go higher to dump again for fiat, and when it doesn't they get nervous and get shaky.
2) Whales and generally TPBT understands they can't Bitcoin, only become a bigger player in it: so it's on their incentive to see lower prices before they start going all in and we go to $100k-$1million during the next decade. They want to enter in big and they will look for the perfect buy, which may be lower. Of course, the lowest point may have been $5900 already. Or they may have been buying for years, who knows.
Agreed.
Although the tree has been shaken pretty hard these last months... any idiots still holding are pretty tenacious. We aren't seeing high volume panic spikes anymore, but more round bottomed highs and lows. If there are a lot of bag-holders just waiting to get out, I think they'll show up more in the cup handles.
For the most part, I think whales/institutions either OTC or DCA into the market to avoid slippage. They are in for the long game, so perfect market timing is not so important. Whales can be a mixed bag, though.. some are just in for the lulz. Like Kobayashi.
Fundamental news takes a while to soak in. Segwit adoption, transaction batching, lightning nodes, institutional offerings are all on the rise but have a delayed effect on price, much like the halvening. FUD and TA tend to invoke instantaneous response, but too much of the same old and people become numb to it, and before you know it, 5 weeks of green.
