We are climbing back up to a couple of key resistance areas, namely the 0.236 retracement which is sitting inside a bigger symmetrical triangle which dates back to February, but the lower line can also been seen as a more natural line of growth if we eliminate the epic explosion of late 2017 and therefore is acting as a strong support.
I am neither long or short on bitcoin at the moment, I am certainly long in the bigger picture, but whether or not that happens now or later, remains to be seen.
I certainly don't believe we will be falling to $3000 levels or anywhere close, I think thats just wishful thinking on behalf of the bears, of which there are more than a few on here!
Anyway, in summary, I will be waiting to see what happens when we reach the area I have circled, if we can break through that strong resistance, the next resistance will be the $10,000 area and then the which will require some force to break through too. If we fail, I expect to fall back to around 6500€.
This will be a critical moment because if we cannot break through, the support will unlikely hold and we will drop to 5500€ area.