Majormax
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March 06, 2019, 11:09:04 AM

[edited out]

Perhaps our Roach and his future lover Gembitz were slain as the bear market morphed into a new Baby Bull Market.  Wink

I am not going to go so far as to say that there is no such thing as a "baby bull market" but surely we are not in such a market yet.

The evidence seems pretty strong that we are currently in a bear market... however, subsequently, if the current bottom of $3,122 is not breached, and better yet $3,700 is NOT breached then there could be some later BTC price behavior that causes us to subsequently describe this period as the beginning of a bull market (aka baby bull)... but we are very far from such a defined state, and it remains about a 52% to 48% proposition that the bottom is NOT in.

Yes , concisely put.. it is as simple as that.  If you use logic and pattern recognition,  the log-scale 9 year chart shows a progression which is clear. As I have always said, a 2019/2020 low at approx $2000-$3000 is about right. Whether that low is in now, or whether there is a further drop will only be resolved with the passage of time . +/- a year or two or a thousand or two does not change the long term pattern.