If you look back at the bubble crash, then it's obvious that afterwards when the price went down below 100, every time the price went back up to above 100 in a relatively short time.
This happened several times, indicating that the market will not settle for a price below 100.
The bounces were smaller every time, indicating that the market will not (yet) want to go up. This means it will go down. If it can't go up here it will go down.
The bounces were smaller, but the dips also less deep. This indicates that the price is trying to settle down after the bubble and the volatile period afterwards. At first it seemed like 115-120 was a nice point for the price to settle on, but bulls reacted too early thinking the price could again grow sustainably from that basis and were punished with some big dumps. Now 100 seems to become the new 120.. is this the real basis we can grow sustainably from after a few months of consolidation or will bulls jump the gun again? We will see and find out soon enough.
This will happen:
-> a little bit more bouncing around here at these levels
-> decisive move below $100, breaking previous lows (huge triangle break)
-> fear and panic
-> $50 -> bounce -> a few weeks of hope -> down again
-> $50 -> smaller bounce -> a few days of (smaller) hope -> down again
-> $50 -> uncertainty, fear -> break -> stops triggered and n00bs panic
-> $30 -> strong bounce -> a few months hope -> down agan
-> $30 -> smaller bounce - a few weeks (smaller) hope -> down again
-> $30 -> uncertainty, fear -> break -> more stops and more panic
-> $20
-> me converting most of my Fiat to BTC
-> price goes up again, third bubble slowly beginning.
Always funny these kind of predictions. It's like someone predicting the weather in a month from now with precisely the hours of sun and rain we will have on a specific day. I would sooner put my faith in astrology than this fairy tale.
