Notice how Bitcoin and cryptos are sluggish and not forcibly snapping back up like they always did. The reason is...
...the largest buying-block of Bitcoin and cryptos (the Chinese) will be vastly removed from the Bitcoin/crypto market by the end of Oct. when all exchanges close in China and their Gov't will be blocking their IP address from trading and buying Bitcoin and cryptos on exchanges outside of China, and they banned all crypto-trading in China on Nov.1 onward, as reported in the news. You can google to verify this news.
China ended Bitcoin's frenzy-party and caused the death of its short-lived bubble; and if you own any cryptos, get out at the higher price today before the massive herd of Chinese crypto owners exit, which will cause a massive sell-off in all cryptos towards the end of Oct. This is why Bitcoin is not rebounding up forcibly higher, like it always did.
Yet, you may see a few spike ups towards the end of Oct. as the Chinese have their one last buying run-up before their last massive sell-off on or before the end of Oct.
Lastly, bitcoin and cryptos are making lower highs and lower lows recently, which is the "tell sign" of their entrance into a bear market.
Good luck if you gamble in cryptos.
I agree with getting out of cryptos, but as for bitcoin, no.
The chinese can still transact widely with bitcoin and they don't need an exchange for that. Any downturn due to the China news is done. Again, you don't need an exchange for bitcoin to work. That was just one door... there are million others. Buy, hold, buy hold.
This post does not say get out of cryptos forever. The main point is buy them low, and that opportunity will come on or before the end of Oct. if you gamble in cryptos. For example, if you dollar-cost average Ripple XRP for .1750 cents now, you will lose money given it's highly likely XRP will sell-off towards the .10 cent level as Bitcoin drags down all Altcoins with it. Why buy Bitcoin at $3690 now when highly likely you can buy it in the $2000's towards the end of Oct. Buy low, sell high. The China factor still at play with crypto prices over the next few weeks as Chinese exit cryptos. The idea is using Bitcoin as a currency and China banned all crypto buying/selling on Nov.1 onward. Why buy $47.80 Litecoin now when highly likely you can buy it in the low $30's soon? Same with Ethereum, due to the massive selling-pressure of Chinese sellers ahead.
I understand your point, but it speaks of timing the market. No one can do that. No one can know really what price it will be when, that's the point of systemic buying and holding. Selling for profit is trading which is fine if that's your aim, but you don't build wealth by gambling. That's how you lose it. But if you want to build wealth, buy on the way down (price doesn't matter since you are holding, so that means buying it cheap), and then still buy on the way up (because your last purchase was cheap if it is still going up). So I say stop trying to time the market, because it's "time in" the market that counts most.