the next days (mid or end of the week) the BTC will leave the bear channel around 4000, if it happens earlier without a small correction it would be a massive long signal which could easily lead to 4400 within hours. fake breaks followed by a sharp recovery in the other direction lead to breakouts in the other directions quite often, that can be observed with a number of other currencies. if some bad news happen (china or whatever), it's clearly possible that we stay bearish, price targets 3500 and 3250. however, if the BTC doesn't reach at least 4600 again within the next one or two weeks, it might be an overall short signal for the currency which could lead back to 3000 midterm, there is still a tiny chance that this might happen if everything bad comes together.
What about tomorrow? I guess no bad news will come. Dump?
ncx
⋅
@rusga, for me it looks more like the price is driven by impulse right now, so i guess the chances for a breakout are higher than usual. hard to say if it happens today or in three days, but i wouldn't be surprised if the price goes straight up to 4200 without coming back. i wouldn't be so sure if there the situation in china is already over. there might be more things which can be potentially interpreted as setback for the bitcoin. obviously china has a problem with this cryptocurrency and wants to fight it, who knows whats their next move and how it affects the bitcoin. purely from the average price the bitcoin looks underpriced now. looking at the volumes it's obvious large investors came already back, i would be very surprised if we see another drop to 3250 and if so, it will be bought instantly, except there are serious concerns over some bad news.