The make or break moment has begun, if history repeats itself..
Well, it looks to me we're dealing with a complete rerun of the prior happenings of the $6,000 crash of last month. Scales, numbers, candle counts, dates are all looking eerily similar. If we can't get some ground, probably into that $10,000 range we're hanging out in purgatory. Volume is tapering off, seemingly every time this has happened with a bull attempt we've seen a crash of immense proportions. Pulling data from last time, we're in line for a ~33.5% retraction if we break down from this flag. No bueno, por favor. Although, a severe drop of this nature would indicate to me that the bottom of around $6,000 would not only be heavily tested, but even potentially broken to a somewhat incrementally lower level. This is the make or break moment, there is no hand holding here. Based on your perception of the market sentiment is what you should go with. You have the bulls shouting $150,000 EOY! Likewise in the other ear, bears groaning $200 next month! Obviously, this is a bear market, no doubt about it. But is this a breakout, or simply another fake out is to be decided. Educational/Personal opinion, I think things are going to sadly get worse before they get better. That's not an indicator to buy or sell, I'm just simply saying If history in any way repeats itself (even a bit), we're going to be hosed unless you're Tethered/Fiat.
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