The market is looking awfully similar to the last crash and long term bear market in 2014-2015. Currently we are battling to stay above the weekly 50EMA (as of 2/6/18). This is our first potential are for a true reversal. If not, and we drop down an identical percentage as the last bear market, we will end up on the weekly 200EMA, which should constitute for a clear buy for whales and experienced traders.
In addition, it seems like we are crashing at twice the momentum as previous, supported by the trend angles of both crashes. Crypto is going to become more volatile as time goes on due to increased whale influence and greed, eventually leading to inevitable market regulation (which none of us want).
Conclusion: No one knows the market, we can only use TA and analyze the past actions to learn from it. Will we see BTC at sub 3k levels? probably not, I dont imagine people wont FOMO at an earlier level around 4000usd BUT be prepared and have a plan if it does. Will this be the "end of crypto"? Again, most likely not. Im convinced this is a market that is here to stay.
P.S It will be interesting to watch what happens if the stock market continues to crash. If BTC consolidates we could see wall street interest raise
*Disclaimer* - This is not financial advice and I do not claim to be an expert. These are just my interpretations.
buy high sell low