Nice to see this pump has scared all bear trolls away
Five digits by Monday next week?
The trend is still clearly bearish, bro.
It's a bounce back. I think there will be another low soon around 6.5k and another bounce back towards 9k (nice one) for beginning of next year. But the trend clearly showing an ABC correction (zigzag) towards the 4k-ish direction, it would be silly to buy now, I'd rather wait until next year.
Of course there is always a possibility to break above 12k (that would mean 20k after that) but the probability of this scenario is very low right now.
Long term holders have nothing to worry about but that means very long term (2025 and after that), but for 2020 no reason to be optimistic. I will personally sell at 9k and wait for another buy point which would be around 4k next year.
PS: there is nothing "trolling" about calling bear trends. It is crystal clear the trend is bearish right now and will last for at least 6 months.
Towards 4k? That would be sad indeed. What do you think about bouncing off 5.2k and forming inverse head and shoulders (with 5.2k during early 2018 and 3k during the last winter)? As for short term - does waiting for another 6-6.5k low and buying at that level to sell during bounce make sense? I am talking about small amounts, my main stash is for long-term holding.
Yes, the trend is undoubtedly bearish. I have been reading this thread for a long time and I lost count of "last opportunity to buy below 5 digits" and "buy the dip" posts during bear market...
Buying at 6.5k is certainly good for a short term profit. If not too greedy of course, I mean small profit like 20-25%, 6.5k is a very strong support for now.
About next year, "bouncing off 5.2k" well the ABC correction clearly shows we will go below 5k, but perhaps we will stay around 5.5k for a while but for me we definitely go below 5k at some point next year.
I am curious to see how 2020 unfolds. If this prediction becomes true then we'll use the same tools for 2021-2025.
About the chart posted by alevlaslo, I like it.
I like it because it confirms the bearish trend for 2020 but it's a more a long term prediction anyway which looks bullish. I am convinced Bitcoin price will be very good in 2025 but there should be a lot of blood in 2020 and 2021 which many holders losing hope.