Topic: Double bottom @ 3.1k or lower low @ 2k? (Read 719 times)

i find this funny somehow but not sure if im going to laugh or not because me myself arent so sure of the price of the coins last month  .

if i still recal i think last month was a bad approach for cryptos   . all are suffering from thier own problem including financial and the appearance of the disease add on this too  . speculation like this last time are kinda acceptable so i dont think those guys are comedians or hungry for attention only  , only on my opinion

Neither scenario is totally impossible just improbable.   We all know the most likely continuation in every global market is the same as previous which is continual inflation and which results with higher prices.   Value behind that pricing is harder to track because we have no common reference, the dollar today is not the same one of ten years ago but lower pricing unless there is failure is unlikely.
  Situations where we go below a thousand which is beyond normal would probably involve national debt default, I consider that to be possible.  The largest trading nations of the world have governments which borrowed so much it would be better to reorganise and start over, thats the capitalist take but we have centralism.   Japan, USA or the central European union bank are all in a situation where they should stop QE and freeze debt, effectively they'd reset in some way like Greece did.   Thats not impossible, we just dont see it on the horizon yet but Germany has argued against ECB policy and as the largest exporter backing the Euro they could pull the plug if it were considered best stability.   Obviously that country has an opposition to hyper inflation for good reason, Japan is the furthest down that road.    It would be best for me to state a source article but I just wanted to say any price is possible if the ground moves but I also expect over 10k to become normal after some duration of 'normal QE'

These are not comedians but stupid fake economic analyst who missed out on bitcon and all they do is to voice their opinion to get some attention for their negative approach and predictions on bitcoin and calling these attention hungry whores as comedians is like showing disrespect to the real comedians  .
There is no way we could reach those valuation but if the entire economic system crumbles then we might see that affect on bitcoin too like the rest of the financial sectors.

some people will neither ever learn nor would ever listen. just look how many people are talking about bearish trend whenever price drops $10! it is starting to become very funny in fact.

even funnier is when you look back at each time price was stable just like now. for example the biggest clowning time was some months ago when price was between $3999 and $3200 and kept going up and down. in fact there is some traces of that (the $2k) in OPs post too

How many months do we have to wait before you admit neither scenario was "possible"?

Word of advice: next time you make a poll, include a "neither" option. Your poll is the equivalent to asking the question "what is your favorite color" and then only providing "lime" and "periwinkle" as voting options.

Why? Most investors consider them both to be risk assets. In a "flight to safety" scenario like March, investors exit both markets for cash. Both markets also benefit from excess dollar liquidity from QE, stimulus injections, etc.

It is behaving that way but it SHOULD NOT be correlated fundamentally speaking

Bitcoin is correlated with the stock market, so inflation might affect its price as well.

I'm counting on it that we will never meet again these prices but I'm not yet sure and confident about that. Because bitcoin's volatility is making everything possible. The month of March wasn't expected to be that bad and we have seen a very low price for this half quarter. I'm this bullish and optimistic for bitcoin but can't remove the fact that any price is still of possibility unless we're actually far from those prices that you have given. Hoping that things will be good for the remaining quarters of this year until we see the real bull run like the 2017.

And then they come back some of them, waking up dormant accounts after a while, usually when Bitcoin's in its typical down cycle. Or they delete old posts and keep the ones that make them look like a genius.

Told you so! Called it first!

Contrary to what many here, I never ruled out the possibility to see Bitcoin at $1000 again, this is still the most important price of Bitcoin history, the price stay belowed $1000 for longer than it stayed above. I don't believe in $771, I haven't taken the time yet to look closely at the chart you posted but I believe $1000 is a very important and very strong support, though there would be huge panic among long time holders, but many newbies would buy at this price.



3.1k = double bottom (January 2019).

2.5k is more of a random number, just a lower low.

Why do you think that the Bitcoin price might crash to 3K USD or below 3K?
Why do you think that both scenarios looks possible?Can you post your analysis here?
It seems to me that you are one of the guys,who just wait for the Bitcoin price to crash badly,so they could start buying cheap Bitcoins.You are too lazy to learn crypto trading and too afraid to take action and buy Bitcoin now,so you just wait.Am I right?
I don't know anything about the "famous analyst masterluc" and I don't know why he is famous.Can you share more of his analysis?

Touch $5k? I would love to wait for that moment because that will be a big discount for everyone, especially if the price continues to go down for $3k. I am sure many people don't want to let the chance to buy bitcoin, whether it's an old bitcoin user or new bitcoin user because if that happens, we might not see that price in the future.

Although it looks impossible to down to $5k or $3k, the bitcoin price can change to any price, and we already knew that. We still see the price is at above $9k even though the trend now is down, but there is a possibility to see the price will go down more.

This is not how it works. When banks print money, there is more of it out there and hence prices of goods and services increases like bread and eggs. Also stocks in general should increase since the company needs to charge more for their products, hence higher PE ratio.

Bitcoin is different and doesn't necessarily need to increase. Only reason it "should" increase is because people might buy it to hedge against inflation. However keep in mind that BTC is not cheap at the moment, just like Gold. Hence people might buy other access like real estate in certain areas.

With the printing machines working ceaselessly, it seems unlikely the price will even touch 5k, let alone 3k.
The more money central banks prints, the more can be used to buy bitcoin, thus increasing the price.

Be careful what you wish for. If the market goes to $3K, there's little doubt in my mind it's going much lower. Too much time has passed and too much accumulation has occurred for a double bottom.

If $3K, then this becomes a decent possibility:


Yes, his target is $771. Triple digits.

I don't think $3K is likely at all however. I'm not worried about that scenario until and unless the market is trading near $5K or below. A Fibonacci retracement that far will be a warning that the March-May bull market has terminated.

It starts off being what you actually think will happen, then becomes what you want to happen and then you jettison all reason and desire and set your mind on 'it WILL happen' just because you've spent so long nurturing this belief.

We've seen it a million times on here and they almost always balls up and go silent.

They could well be right eventually but the chances are high they're so fixated that they screw up long before the actual event with a premature move. An open mind and willingness to go with the tide is prerequisite for success at this type of thing.

2 or 3k is very welcome, even though I am bullish in long term. Have some fiat I want to get rid off before the covid crisis hits.

Any so-called analysts or "expert" analysts can predict whatever they want to predict and that is ok as we are free to predict but not all of them are predicting right especially this one.

Anything is possible with regards to crypto we know that but this scenario where it will reach 3.1k has a chance of around 1-5% only for me as I don't see any signs that this will go down again to these price but as I say anything is possible on it.

The only possible reason that I see is when there is a second wave of the COVID19 that will cause the investors to panic and sell their assets again like what happened last March. I know that some countries are facing the 2nd wave already but some saying it is not. Anyway, lets just hope for the best to all of the countries .

$ 3100 and 2100 we will never meet again, it's useless if we wait for it at that low price,
we've entered a bullish wave, don't expect to get a cheap price

People dream too much and so is the reason view that the price would dump before a big rally. If they stop considering bitcoin as magic way to make money then they will stop having these wild dreams  .

Since there are many wallets which are having coins mined in the early days are waking up and sending out messages anything is possible as you never know what they will be doing with those coins and whether they will dump those coins in the market or when they will be moving those coins but still i am not seeing a blood bath.

I am very very amused by these people, $2k by the end of second half and 700-900 by next year lol, even if you combine all the greatest comedians in the whole world and tell them to write a joke it wouldn't be this funny.

If you think that will happen I would love to buy all of your coins for $5k right now, doesn't matter how much, doesn't matter how many millions of dollars, it could be in billions, I will find the money for it, please sell me all of it for $5k. That way you are making 5x profit as well. People do not realize how many billions of dollars required to sell bitcoin in order to drop that much.

If you think you can find billions of dollars worth of bitcoin to be sold to make the price go down that much, you are only kidding yourself. You can call bulls whatever you want, the price could even drop a bit, but if you are looking for $2k, I am going to be laughing my ass off to the bank thinking about you guys.

"Both scenarios are possible" and then proceeds with no kind of explanation or analysis whatsoever explaining why is it a possibility. Yes I know there is a possibility here but as of right now where we are consolidating in the 8,500 to 9,200$ level we cannot even determine yet if we will fail to retest the 9,700$ level or not so determining if Bitcoin will bottom at this stage isn't something to look at right now since that is not what we are currently facing. This "Bitcoin is currently in a downtrend" you are talking about doesn't even exist since like what I have said above Bitcoin is consolidating which is neither an uptrend or a downtrend, basically it is a sideways movement for any chart. 

Of course, my prediction is quite exaggerated, but I need to prepare myself psychologically, as every time I see hype over any crypto-related event, I cringe.

People believe the cycle will repeat like in a movie. Remember that the exchanges still didn't unpeg themselves from futures markets, where bitcoin is bought and sold without anyone having it. This is the same as printing money out of thin air (inflation, which, for a deflationary asset, can be disastrous).

The most probable scenario is the price visiting the 5-6k area again. Since I'm selling in a inverted DCA strategy (a little each month), I leave the fiat in the exchange and put rebuy orders in that area.

What I find amusing is that even bears are ultimately uber bullish: "Bitcoin will drop to xxx and then I will buy all I can before it goes to new all time high".

Not going to happen this way. At the real bottom everyone will curse Bitcoin, call it a ponzi and leave it for dead.

"bulltard"  I like that word, never heard before, makes perfect sense when you read threads like this https://bitcointalk.org/index.php?topic=178336.538080

Coincidentally I have some Ripple and some Ethereum too, "just in case" and really not much but you never know. Bitcoin remains my favorite coin but only for trading purpose.

On a side note, signature campaigners are doing a magnificent job in this thread, keeping the topic alive and kicking!

I think in the rest of this month, bitcoin price will not have a significant increase, and it is like what the price now moves. Bitcoin price now still at $8,800 and seems, the price does not break $9,000, but maybe the price can break that price in the next months. We have much time to wait and see for bitcoin price to break on that price, and we should not panic if the price is down. In the end, when the time comes, the bitcoin price will increase so high. I feel it is hard to down to the OP mention, but that could be possible, so we need to be careful.

I am pretty sure most bears at least long term bears took profit when BTC hit $3500 or so. Hence why you are seeing record number of BTC withdraws from exchanges right now. Most bears sold at >$10K or so, covered $3-4K and withdrew to cold storage. So if we break $10.5K, I don't think there will be a short squeeze.

Same with bulls, the long squeeze at $3.5K took out most people who longed at $10K in February, they are most likely out of the markets. And the move from $3.5K+ was quick, not too many bulls longed in that area.

I just think we will get sideways trading for the next few weeks.

I actually agree regarding how sentiment cycles work. The halving was a "sell the news" event, exactly the same as 2016. However, I think you're mistaken that this necessitates new multi-year lows. It didn't in 2016. There was a brutal 40% crash around the halving in 2016 but a new larger bear market never developed, and BTC was entering a bubble by year end. The same could be happening now.

My opinion on current sentiment is that both bulls and bears are currently greedy and need to be squeezed out. Maximum pain. Coming off a mid-term uptrend, my belief is that bulls will be squeezed first (40% drop like 2016 would mean $6K) and then bears will be squeezed as we enter a new long term bull market or bubble.

There is still a small chance we see sub-$3K again but I think it's much more likely all higher lows from here on out.

The price of bitcoin had a resistance above $10k and if we look at the bottom after the last rally then it is a really good valuation considering it went down to $3k levels.

Since everyone is looking for a good correction before the big rally, we might not see the levels what is mentioned by the OP, but a couple of thousand dollars before the rally is a probable valuation.

We might see corrections but the only worry for me is that the market situation is not the same like we used to have in the past, there is a pandemic situation that is threatening the financial sector and with all these economic struggles i am not sure we will repeat the same rallies we used to see in the past.

Bitcoin historically doesn't do long term double bottoms very well. The most accurate indicator is the 200 WMA which we managed to close AT and later on ABOVE back in March. I don't think we will get a double bottom at $3100, it will be more like a triple bottom. If it goes to that area, I see it breaking and bitcoin never coming back to ATH.

With the halving and all this fed printing I dont see it ever going that low. Sure we might get $6K or so but never $2K or even $3.1K.

Only reason we got $3350 or so was due to the massive liquidations that bitmex couldn't properly liquidate. If there was more liquidity that day we most likely would of never closed below $5500.

Those who longed <$4000, bought the bottom.

If you guys want to believe what you want to believe, nobody could stop you, if you want to think that 3k is possible and even 2k is likely if we go there, go ahead and think like that. But, if you are holding even a single satoshi of bitcoin on your wallet while saying this you are being two faced and should be ashamed.

Bitcoin could always drop or go up, that is a thing about bitcoin that people haven't really forgotten, if you see bitcoin at 10k, that means it could be 5k or 15k tomorrow and technically it could be 1 dollar or 1 million dollar as well but that part is unlikely. Yet when we are talking about prices that we haven't hit in over 4 years, you are making it a bit more than what it suppose to be. Why would it suddenly drop to a 4 year low price all of a sudden when we are just beyond halving now and it is easier to increase the price?

I agree 10.5k is the cliff edge for the bears.   BTC never has definite absolutes, I find it tricks us multiple times so I try to absorb the character and progress more then just 1 signal or event.    Right now its fair to expect some pullback but its still pretty slow progress and the longer it lasts at this level the more possible we go challenge 10.5k area again.



Its just dragging itself along the line rather then confirming below any particular measure and then moving in a proper way.   I'm not especially positive till we get back above 9200, its not a big ask but seems a distance too far for this moment.

I guess both of these scenarios are close to impossible the bitcoins price is having huge support at many price points which will be hard to break, so we can see a small dump in the recent times but bitcoins going back again to the Price of 3.1k which was last seen in the start of the year 2019 is pretty close to impossible unless there isn't any bad news related to Crypto or the world economy.

It can possibly turn those end users to choose other alternatives since the transaction fees for now is really affecting them, most to those who are trying to use this system for their business, if they are going to pay high fees the chance that they will change system will be the best options to continue business. Adjustment period can't be avoided but hopefully it won't pushed users away.

$2k is the most likely scenario, due to bullish expectatives in relation to the halving. The bulltard cultist works for the bear.

People ignore that in the previous halving, the derivatives markets didnt have a influence in the bitcoin price. You didnt have Bitmex liquidation engine gambling against bitcoin. Derivatives, futures, paper speculation, its always there to destroy "safe haven" assets. It happened with gold and silver.

Then you have the plandemic to worsen the situation, as bitcoin is correlated with the stock markets, so anything which affects the fiat system, will affect bitcoin as well. And, in the case of the plandemic, there will be one each year, until 2030.

$2k is likely to happen in the second half of this year, with a low of $700-900 by the end of the year.
Adoption of bitcoin is unlikely to happen, as on-chain transactions are extremely slow this year, taking up to one hour for the first confirmation, even with the highest fee.

My fear is if ethereum or ripple takes the place of bitcoin. This would likely to make them targets for the liquidation engine. I would prefer these assets to unpeg from bitcoin price, and take their own path, but without becoming the "first coin" in terms of market cap. A modest development is the best course of action for these projects, without making too much hype.

My optimistic mindset make it hard for me to agree to any of your predicted price. I understand the market hasn't been bullish recently but that doesn't mean if it does dump it'll fall down that massive to all time low. The 4k-5k price margin is quite reasonable and would be my lowest prediction although I do understand the market has all the elements to surprise us at anytime.

We're just weeks into the post halving era so some might say it'll too early to start predicting the reaction of the market which is quite true to some extent but since the market has a way of reacting based on previous occurance I'll still believe some correction is bond to happen but not as low as what the OP has predicted.

Everything is possible. Bitcoin has been showing some signs of not being able to break through the $10,000 level and now we're back at $8,900. As we all noticed, everybody has been complaining about the high transaction fees. Specially now that miners are still in difficulty adjustment period, some are spending their Bitcoin to cover the expenses of their hardware upgrades.
I'm afraid, there will be a decrease of Bitcoin movements due to the high transaction fees, this might be one of the reason for Bitcoin to decrease it's value.

Still remember when we are still hovering between 9k-10k price back in the past? on where people are already speculating that we wont head back down that low when someone do made out some analysis that we might be heading back to that point?

Im not saying that theres someone can make out precise prediction but we really did head back to that price on least expected by the entire bitcoin community or that was really a shocking thing that happened.Some do even speculate that we might able to go in 1k price which is a horrible thing
to happen imho.

So therefore we cant conclude that it wont happen because crashing to 3k back isnt really that far of.

It is possible as it happens in the past year but seeing the market today, I doubt that it would happen, not this year. The halving effect will be shown later and that big possibility that we even soaring high than for the current market position. That pretty obvious that fewer chances we experience bearish rather than to be bullish.
The possible case scenario that will be showing this time is from $9k to $11k (as we break the $10k resistance), not that $9k to $3.1k.
I feel that some whales would like to manipulate some minds.

 

He also said the bear case is invalidated if $10.5K is broken. Keep that in mind if the weekly trend does not break down soon. https://www.tradingview.com/chart/BTCUSD/qNy2lBH5-Bearish-outcome-of-previous-ideas/


I still like my multi-year bullish triangle scenario:


Why? Because we are still stuck in a contracting range after 2.5 years. Bulls seem too bullish, bears seem too bearish. Everyone seems to think it's either moon or doom. As a believer in maximum pain theory, that leads me to believe both bulls and bears need to be squeezed. Structurally given the contracting range, that means squeezing bulls first and bears second.

I still like the $5,000s and $6,000s as downside targets. Same as Masterluc, I will likely discard this scenario (or at least give it low chances) if $10.5K is broken.

I don't see a strong case for $3.1K. If the market goes there, I would strongly bet on lower lows and a more prolonged downtrend. After this length of time (with bulls building positions much higher for 1.5 years) a double bottom there is very unlikely.

3000 is seared into peoples brains as the real low after the ATH price, its likely that price keeps moving and BTC seems to have a longer moving average then many prices and no longer would keep 3000 as a low like you say.    Its quite probable these years later the low would be 6000 but we did trade past that certainly in March but not really close there for the week hence it was quite bullish.
   We did trade price into the 3000's area in March so the legend lives on and most think this area is where the plug hole goes for BTC when its going down the drain.    I dont know thats going to happen again but its hard to imagine what equals some random virus wiping out people and causing a shutdown.   I do think a second wave of virus cases happens as people are determined to ignore the risk as its not visible and I still hear not much on testing or any possible measure to end this.   So the graph might say up but fundamentals in many ways show trouble could be rising hence a possible sell.

So far as this second event scenario is concerned I'd take option 1 not a lower low really.

You can't just claim "both scenarios are possible" and leave it at that without filling the blanks between 9k and 3k and just expect us to believe you without a doubt. I do not think neither of those scenarios are possible, I think they are impossible right now. Bitcoin is doing very well, it may have gone down a bit recently all thanks to fee's being high and transactions being high and all around bitcoin becoming something very expensive to use, but that is a temporary thing.

It is not really a forever deal and eventually we will get back on track to be great on transactions (fast and cheap) and by that time we will go up again. Just because we had a tiny bit of a problem and went down only a bit doesn't equal to us going down forever and reaching 3k and even 2k which we haven't been in over 3 years.

I don't think that at the moment there are conditions for Bitcoin price to fall that low. Of course, everything is possible and right now we can see some corrections however I don't expect some deep fall to happen.
By such low values we would really have huge panic selling that would disturb the market additionaly which is no good at all.
Right now I don't think there is a room.for fear of such low price and to my opinion at this correction Bitcoin will probably not go lower than 7000$, if this even happens.

Is this a serious thread?? You actually think its gonna go back to the bottom of the 2018 bear market or lower? Technically we already got that 3000s double bottom with the pandemic panic sell. Outside of that panic sell the post-bear market local bottom was 6000s late last year. We could definitely see 7000s again soon (though it could possibly hold in the 8000s) before moving up, but anything under 7000s gets increasingly unlikely and 3000 is, well, like the predictions of 3 digit price back when bitcoin was at the bottom of the bear market in the 3000s last year.

I doubt we’ll see sub $5,000 ever again so the poll needs another few options. I don’t think $3,100 or $2,000 are on the table at all. OP you seem overly bearish & masterluc has lost credibility in crypto space, he’s wrong more often than he’s right these days.

I don't expect to see that the lowest price but that could be possible to happen again. Perhaps, we don't want to see that lowest price, but we cannot do anything if the price really gets down to the lowest price, but we need to be ready and prepare some money to buy bitcoin at that lowest price. We will get another discount price of bitcoin if that is really happening so we can add more bitcoin in our wallet. Once the lowest price is gone, the bitcoin price will be back to the higher price, and who knows, after that lowest price, bitcoin will start a rally and the bull run will come.

- They might be still presuming that the strongest support is on that area since it didnt able to have a breakout when we head down to 3k price and
  the market had its recovery after that.

- Not necessarily but hard crashes are one of the indicators that we might be seeing some price increase rally.

- You wouldnt know because fundamentals or news can pop out from nowhere anytime and make the market crash. It isnt something new btw.

Seeing as I'm not selling in any particular circumstance, and would love to earn me some huge bags of BTC for the next 2021 or so, then I'm going to vote for a new low.

I don't think this will happen though, as we've never seen an annual low lower than the previous year, so if this happens, it'd be a first.

The only reason I think we'll go to 3k or 2k even is simply because the global economy shitstorm hasn't become apparent yet. There's hope it won't affect Bitcoin markets so badly, judging from the March display. But you never know.

I don't want to vote because I don't believe that price range going to happen again this year.
We've seen the bottom this year already, and I think bitcoin will just stay at $6000 at its lowest price this year as just recently, bitcoin is quite stable although if fails to break the resistance level many times.

If bitcoin will drop that low, a lot of investors will panic but some people would be happy to see it as they can start accumulating again.

Me, I don't believe we will see that low but I would not be disappointed seeing, instead, just like what whales will do, I will also accumulate and will not miss that chance.

Most likely Bitcoin will hover between $6000 and $10000. If a double bottom has to happen because of all uncertainties about covid-19 recession then will happen at $4100. When? Probably at autumn this year. Maybe early winter.

I don't think bitcoin's value will drop to $ 2k. There is no reason for investors to sell bitcoin now while the Halving event has just been completed. Besides, the pandemic is being controlled gradually and the economy is gradually reopening. That creates every favorable condition for Bitcoin to grow in the future. I guess the price of bitcoin could fall around $ 7k and bounce strongly. Don't rely on well-known financial analysts, they are whales in the market and always try to manipulate the market.

$ 3000 or $ 2000 I feel it will not be touched, Dip has been fulfilled in March when the price dropped to $ 3800, and now the Bullish dominates,
you can regret if you do not accumulate now

That's too low percentage to occur for a double bottom scenario unless a COVID-19 2nd wave comes and continue the global economic crisis. Most of the trader that speculate that lower low are those who didn't look on fundamental analysis which is very crucial in crypto trading.

Can you give the source of the analysis you read? I want to study thoroughly his point of view for that prediction. I'm not telling that it will not gonna happen but the chance to revisit that price level is very rare. In my own TA, BTC might suffer a correction to 7k and below if it brokes the price support at 8k level within this week.

Everything is possible, specially if there are news that will likely create FUD, pushing the price deep around $3k levels. We have seen this happened before, we shouldn't discount that possibility. But we all know that when the price go on that levels, bitcoin are going to recover in the next coming months and I wouldn't be surprised to see if it will rally to hit $10k again. So we will see if this double top will be validated or a new break out will occur in the next coming months.

Probably that's where their crystal ball is saying. 

But to be serious, $3.1? Why not $5k? We haven't seen that price expect for the pandemic scare, so I doubt that we can go that low again. Bulls won't allow that price to that dip, remember that they keep pushing for the five digits, but it is really a big barrier ahead of us. So if by chance the price goes on a downward spiral, I'm sure many investors will not wait for the price to hit $3k. They are going to be ready and jump on the gun to buy around $5k range, in my opinion.

I know it will seem like the dumbest question on the planet, but I will ask it anyway. my question:

why the hell always talk about $3000?

will it be that whenever the price increases a lot we have to go back to $3000 again?

even with this pandemic the price did not fall much, so what would make the price drop to $3000?

That is too low but you are right it's possible.

Anything is possible in crypto and even if it will bounce back from that, we can't even be sure that it will go to the bull run.
The market is very unpredictable, if the market is very volatile, we should learn investing for short term and best technique is to always accumulate during the dip.

The Covid-19 scare shows that the Bitcoin community is resilient to the kinds of market scares that will shake the fiat markets.  It's likely the only ones who cashed out were either shorts that came into play when a small number of investors cashed out, or mid-term miners who didn't want to wait until the halving occurred while there was/is uncertainty around Covid-19.

I wouldn't want those lows to see but if it happens then so be it. I'd like to see the long term effect of it and we're counting on it somewhere 2021-2022. Are we experiencing this because miners are turning off their miners already? Regardless of that, there were instances in the past that no TA what was coming for bitcoin and that could happen this time or any time soon. I just don't want to see that we're going that back low but if it, well, I hope that I have money by that time to buy.

Hi,

Both scenarios look possible. I would prefer to see a double bottom at 3.1k area (same low an January 2019). That would be very good for a trend reversal in the long term (2022 and beyond). I would finally become a bull!

I saw famous analyst masterluc predicted a lower low around 2k if the downtrend continues   unfortunately looks possible as well.

What is the most likely scenario, and why?