Of course we wont see a 100% identical price action, but because we have broken the 9400 support, even the amateur trader is shitting his pants right now, because of how fast the drops are going, but probably a bigger factor, is the big everyone was waiting for (which i have been saying whole week it will fail!!), the breakout of the long term downtrend which again was a bull trap. Just the disbelief it did not break the 12K and we are breaking the 9K now. Big chance many will give up the fight what could push price down even further.
I think even the long term investors will start to loose faith, if we are going to drop even further. I think a break of the 8000, will probably be devastating, at least for the medium term.
Than we have some big facts hanging above this market, recently we have all read the 2 billion worth of BTC that will be sold (probably within a few months) by the Mt.Gox people, but there is still the other 100.000 BTC (i believe it was in Thailand) that the police had seized and will sell (or maybe even have sold them), but everyone probably have forgotten this one (news from a month ago).
For now, it's hanging to long at the low and below the 9400, so big chance we will make another 500+ point drop soon. Unless it is able to push though the 9400/9500, then it will take much longer. I have already closed some of my short position, and i will close more if we break the 9500. (i posted this half hour ago in my previous chart, read it and the other previous ones if you want to know/learn more)
I will not be answering any questions anymore, that i have given the answers to in my previous charts. I am already putting in the hours with giving good posts and updates, put in your own hours and read my history, if you want to learn something and become a better trader
Funny how he thinks, goverments want to buy Bitcoins LOL :). About the rest, he could be right. I find it very very strange that he even announced this, he is putting pressure on his own plan now.
Pushing all the shorts out of the market, taking their money, luring buyers again in, taking their money too at the 9800/10000, than we drop again while:
-Many shorts positions have been chased out of the market and earning money from the people who shorted it at the lows.
- AND they have taken money from buyers again who bought at the breakout.
-So now the whales (who bought the market up from the 8300 up), made a big profit from the wave up. AND they have chased money short positions out of the market and making the wave down, WITHOUT them :).
It's quite the theory, time will tell :). But it's weekend now, volume is lower, manipulation is easier to take those directions. Perfect weekends sideways action, i have talked about many times now