Keep in mind our "companion" Nobuaki Kobayashi from MTGOX stores has still 166,000 bitcoins to offer and he is the enormous frenzy merchant.

Breaking $5800 will lead us to an unsafe 3500-4700 zone where mining is getting to be unbeneficial with a last plunge at $1350.

I dont see Bitcoin dropping lower than $1350 even in the bad dreams in light of the fact that at those costs the mining would not bode well.

That will be undoubtedly a snappy plunge with a bounce back to 3500 zone, not a long one. It can happen if Kobayashi dumps enormous measure of bitcoin on the wrong minute when the market is discouraged and not prepared to purchase 166,000 1.9billion worth of bitcoins from him.