we are looking at some consolidation. But dangers remain. Look at how the last collapse took place. There is someone out there willing to take the entire coin down to the basement.
for bottom dwellers, this is christmas.
for holders, it's scary, and for hopers, it's terrible
8k is a very likely take off point, unless the community allows for price to completely capitulate. The likelihood of this taking place is probably not high, because people want to be kept motivated
I'm liking your 8600-ish bounce. This is the pull back I was referring to in my idea post. Looking back to September 2017, it fell big then it pumped nicely but then fell back down - but only fell about 1/2 as much.
So, looking at the your current chart, we saw that big drop to 6k, it rallied back up to 11.6k and now pulling back again. I agree and also doubt we will go below 8k again. And your 8.6k area is where I think it will touch before turning upward and continually move into a nice bull run - maybe even exponentially. All we can do is examine, learn, throw some lines on the charts, look at history and talk to each other about it. Good stuff - keep it going!
So, looking at the your current chart, we saw that big drop to 6k, it rallied back up to 11.6k and now pulling back again. I agree and also doubt we will go below 8k again. And your 8.6k area is where I think it will touch before turning upward and continually move into a nice bull run - maybe even exponentially. All we can do is examine, learn, throw some lines on the charts, look at history and talk to each other about it. Good stuff - keep it going!