So, clearly we are going to 6000 USD with BTC, followed by a short lived surge, after which we'll go all the way down to 3500 USD.
Bad news, I know. But, I think that will be it. After that, we'll be going back to 14000 USD and further up.
Clenched butts for a few more months.
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So the mentioned 'surge' is behind us. We are now going back to 6000 USD levels and further to the real bottom 3500 USD. After that, like I stated, we will go back to 14000 USD and up.
@whoisthelorax, It very well could be. I just saw a stronger support around 6000. I then figured that if 6000 proves to be correct (wich it seems to be, looking today at the chart), that the price wouldn't -also- reverse (temp.) around 5000 after that.
joeytran7
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Hello, your post is so great. How can you find where is support (3500, 6000)? I am new here. Thanks!
khadimzaman
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@tranquoclinh.it, I'm not an expert either, but long live the Internet. Please read about Support and Resistance lines online. A good place to start is this Wikipedia page: en.wikipedia.org/wiki/Support_and_resistance
From this Wikipedia page: 'The more often a support/resistance level is "tested" (touched and bounced off by price), the more significance is given to that specific level' - Wikipedia
dadonnum1
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so if that happens will the Alts continue to drop?
khadimzaman
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@dadonnum1, Not sure, but I would guess so. I mean, if BTC isn't holding, than the Alts haven't got a chance. Somehow I think this may prove to be a good thing. In six month we'll know wich Alts have truly any added value, since those are the only ones that will survive this crash.
i can see it acting as support and resistance