If we have a bigger dip, I never pull the trigger with everything I have. I recently purchased bitcoin at 9.3k. Before I bought it at 14k the same amount. This means my average buy price thanks to buying this dip at 9.3k is now about 11.5k. I plan the same if we get to 7k. This would lower my buy average price even more. As I previously mentioned, I still have this feeling to go lower. However, long therm I can bet all my crypto investment we are going higher 😆. If you compare today’s downtrand with previous, it’s sooo similar almost to the point. My guess is staying between 7-9.5k for few more months before we shoot up, many people will give up. It will be frustrating. But eventually, it will shoot up just like previous seven times. We just have to be patient!
2011
Now
$10,000 is key. We have recently seen a nice leg higher, which could ultimately turn out to be the first leg in a 1-2-3 reversal: http://thepatternsite.com/123tc.html We're in the zone where we get a higher low (point 2). That, of course, would have to be followed by a higher high (constituting point 3). For now it's a waiting game, but with the primary downtrend broken, the possibility of a retest taking us to a higher low that holds is good, in my opinion. In any event, I think that 20k short term is unlikely at this point. All of which brings me to say that I'm in basic agreement with you, but just slightly more bullish and at slightly higher levels perhaps.
I looked at your link with 1-2-3 trend reversal and as a believer of history mostly repeating itself, it perfectly makes sense. If you want to know the future, look at the history. In many cases it eventually plays out with the same outcome. I believe you are right. If we sooner than later break 10k even with this nice gap (even though in crypto there are no gaps, there is 24/7) your words will be the first that pop in my head 😆. I would think “@cryptographic was soo right!” I also noticed Thomas N. Bulkowski‘s stock market prediction and I couldn’t agree more.