- The coin will go down to about $5400 or maybe $5900
- We will then see a very shallow recovery, (stabilisation), as people will be reluctant to re-enter the market.
- Many Altcoins will fall off the cliff
My strategy? If you are invested in Altcoins, move them to more mature coins, (ETH, LTC, NEO, XVG and so on).
And for now just hold, and hold, and hold!
The Market will recover and we will see new ATH , but you must wait.
In a few months all this will be nothing more than a bad memory. I do not see us back to 10K before April.
Your chart should be on a logaritmic scale. It's impossible to have a good chart read of on a regular scale. Pattern on the upper part of the chart are exagerated versus those at the bottom.
It's especially true of bitcoin which has super high volatility.
For the rest, yes I agree, the bear is far from over.
Probably BTC will be worthless over 12 to 24 months. Still SHORT!
As for the scale of the chart, it is not that important, nobody can give an accurate TA over 3 months, (especially in the crypto world).
The point is that it will be a while before it recovers ... and it will get worse before it gets better.
But that's the beauty of it, it's a free market, only invest in the coins you understand.