There was a lot of amateur buys leading up to 2018. The current down trend is shedding these less educated investors. It will take a great deal of movement to get BTC back near its highs. It's possible recovery is a long way off and more possible an alt coin will emerge as the new market cap leader.
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Despite optimism returning to the market, it was not enough to break through the down trend. One bit of good news is the highs and lows are showing less volatility than January. Keep an eye on the 10k and low 9K levels. Should it fall below that, the bear trend could spill into March.
Trade closed: target reached
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BTC remained bearish for February. There is some evidence it may not last for much longer. The mid 11k levels remain elusive, however cresting over the down trend line is a good start.