There is more pain on the way - first 6k, then probably 4, 3,2...If Wall street plans to buy cheap we probably can bounce relatively quickly. If not however, we may stagnate and have an ice age period for more than a year - it takes some time before the public forgets how much money they lost. I mean the euphoria was at levels 15K and more - it was the time when taxi drivers were talking about buying bitcoins, some madmen were using credit cards, or were taking loans from banks to buy bitcoin - we had all the signs of a bubble. Now there is a lot of fear in crypto and it takes a while before fear disappears...
When it will bounce?
Any bounce from $6,000 ?
I think it is possible to have one from 6K but it will probably not be a big one - probably going to about 7.5K? I would love it if the trend reverses at 6K but am more of a skeptic it will happen. We have more support at 4K, so that area might be more difficult for the bears to go through. If we fall to 4K or less, I might begin laddering in - for the moment I am just watching most of the time.
Hopefully price will bounce soon.