Thanks for the reply!
Option 2 is kind of like what you are describing: setting a higher low. Except in your case it would go up to whatever number it decides to stop, whereas I see $6000-6500 as a breakthrough point where the pattern is made invalid and we switch to option 1
It's based on my experience with how these things tend to go. Previous resistance becomes support, so dropping below 6K soon after we broke it to set a higher low seems less likely to me
I agree that BTC is worth buying at 5K, 6K, etc. I consider it worth buying all the way up to $20K. Just like how it was worth buying up to $1200 previous time
Yeah, I know about resistance levels.
When it previously went up to 20k, it bounced off 5800 abouts, went down past 5300, then went back up to the resistance line around 6100, bounced back, then rode up to $7400. It could do something like that, sideways a bit, before going back down. Or it could bounce back from that resistance a lot farther. It could go down to around $4300. We aren't clearly in a spike yet. It could spike and fall for a while...or go sideways...or just make it's way right back up. Spikes and falls look like sideways action only in retrospect usually. When you're watching them, they look like a heart attack.