i'm not sure of anything right now, and i've stepped away from trading until there is a clear trend or range. if the market can break above $8500, then i'd be more confident in a long sideways accumulation period.
Imo it's more important to break out of the bearish channel we're still in. Holding the $6000 area, the price has actually already broken the "ultra-short-bear-channel" which began at the 8500 high. The critical zone to break out of the mid-term bearish trend would be the $7300-7500 area (or around $7000 if the growth is slow).
i definitely think $3000 is still a possibility (maybe further). we've spent quite a long time in this $6k-$9k range = lots of new bagholders if the bottom falls out again.
Yes, but I think the buyers at $6000-9000 are not the same kind of people than the buyers at $10000 - often complete newbies trying to not "miss the FOMO train". They have already sold and are out, I think. The $6-9K buyers are mostly, imo, people more familiar with Bitcoin, who were trying to "catch a dip". Or long-term believers.
That's why I think while $3000 definitively is still a possibility, I guess the crash down to there will be less harsh than the crashes we've seen earlier this year. In 2014/15, a
similar pattern could be observed (mostly between October and early January): The longer the bear market progressed, the less harsh the crashes were, with the exception of the final, "cathartic" $135 dip (which got eaten in a few days). So we'll probably see a relatively quiet sideways-to-bearish phase.
