Just to state my long term price projection for bitcoin. I believe price should hit 110k sometime around Jan 2020, and the bull rally should start at the end of 2018 or the beginning of 2019. As usual, 3 bottom price predictions are listed here:
1. bottom around 6k USD with spikes to around 5k usd,
2. bottom around 4.4k USD with spikes to around 3.8k USD.
3. bottom around 2.5k USD with spikes to around 1.8k USD.
In bitcoin price history, large price spikes with high trading volume is one of the most important market behavior during the bottom searching, if you believe the large spike in Feb has already defined the market bottom then price should starts to make higher lows from now. so overall, I believe 6k is one of the most important support level at the moment, and it will be the indicator for determine whether this bear market has ended or not.
1. bottom around 6k USD with spikes to around 5k usd,
2. bottom around 4.4k USD with spikes to around 3.8k USD.
3. bottom around 2.5k USD with spikes to around 1.8k USD.
In bitcoin price history, large price spikes with high trading volume is one of the most important market behavior during the bottom searching, if you believe the large spike in Feb has already defined the market bottom then price should starts to make higher lows from now. so overall, I believe 6k is one of the most important support level at the moment, and it will be the indicator for determine whether this bear market has ended or not.