Bitcoin still has alot of major support levels that need to be broken before we think about the $4,975 region. $6,410 is the next major region that price could reach, the previous time price reached this level was also after a sharp bearish move and we then witnessed a strong bullish bounce off this level. If price doesn't find support before it fall below $6,000, Tylers prediction could be met.
Thank you for your input @stevewakeham. What is your longer term view of the Bitcoin price? Are bullish or bearish?
Long term I am still very bullish. Once price finds the bottom of this bearish run i believe we will see price regain value and creep towards new highs at the end of the year.
I trust we will find a bottom soon. Have you seen Haejin Lee's alternative view? Re-posted it today.
I think so too.