I think we will see Bitcoin going as low as 8000, and then new investors jump and buy to move the price higher again. I expect the market recovery by mid or late February. Basically when we see USD 750B market cap we can be sure we are out of the red zone. Which is + 50%.
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We could see nice rejection of the 7800-8200 zone today. Whether we stop here or going lower is a question, we will see. I wouldn't be surprised to see the price going as low as 4800-5500 zone tho.
Thank you for comment @theben!