After the massive price manipulation, the price of all the crypto has been forced lower and is comfortably sitting above the support levels.
BTC is hovering above the support + 10000.00 USD mark. In my opinion, there are 3 possible scenarios at the moment.
1. We will have a little dip below current low at 9928.62 USD and consequently, the price goes up. 2. We have a deeper dip that will be followed by a price return above the earlier mentioned support level. 3. Price is gonna get pushed much lower and from there it will enter a long accumulation period. From there price emerges higher again.
In all 3 scenarios, we should see higher highs and easily pass 20K mark.
I think it stops around 8.8K (below 0.61 Fibo) or 6.8k (0.72 Fibo) seen at Bitfinance Charts. Once finished that correction, it goes through and turns to a bearish market (I don´t think so), or it works through all Fibo levels for the next few months (with view on "regular" stock markets up to March to May), what I believe.
If this happens, between March and June a decision will come. I think, there´s a big chance, it turns to a bearish market then. It depends, how cryptos and BTC will still attract people and it´s also about government regulations and crypto bans. I guess, 2018 is a real decision year.
ArmandsTrencis
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@TomHess, Yeah, it is hard to predict where it will stop. We will see it anyway.
If some stupid governments will try to ban it, it would be interesting cause they can not really do much about it.
They can ban exchanges, but then other ones will pop up in other countries. They may succeed just for a short term.
Hedge funds will want to make money again like they did now :D
Hard to predict, to be honest, but it will certainly be an interesting year, I agree.
If this happens, between March and June a decision will come. I think, there´s a big chance, it turns to a bearish market then. It depends, how cryptos and BTC will still attract people and it´s also about government regulations and crypto bans. I guess, 2018 is a real decision year.