Some thoughts and these are just my thoughts. I'm in no way an expert here simply just using my eyes to spot patterns.
ok, so from looking at the underlying trend line that BTC has been using as support all the way back to the beginning. if we use that as a guide and assume that BTC will continue to bounce on that support then we can look at some possible trend senerios. if we take some measurements from the last big drop to 3kish back in Nov 18 and apply them to the current drop underway we get a loose estimate of days until a new trend direction could reverse. this is based on that fact that patterns like to repeat.
Does this look probable? time will tell but that long term support is super strong so based on that possibly look to next April/may/June for the rally to 20k to truely resume.
ok, so from looking at the underlying trend line that BTC has been using as support all the way back to the beginning. if we use that as a guide and assume that BTC will continue to bounce on that support then we can look at some possible trend senerios. if we take some measurements from the last big drop to 3kish back in Nov 18 and apply them to the current drop underway we get a loose estimate of days until a new trend direction could reverse. this is based on that fact that patterns like to repeat.
Does this look probable? time will tell but that long term support is super strong so based on that possibly look to next April/may/June for the rally to 20k to truely resume.