So, we could go up to around 7500 again, before resuming the downtrend.
The low, and this is also suggested by other analyses, is probably in the 3000 area. It goes back to the china crash in 2017, where 3k served as an excellent support.
Then we'll probably see a bottom formation and bouncing around that area. Then sometime in 2019 we'll get ready for the next bullrun towards new ATHs.
Why don't I believe, like some others here, that a new bullrun is about to start this year?
Imho, the network is not robust enough yet to sustain such prices of 20k+.
We need a few more years to get there until the network has grown more, more transactions, and more institutions pouring fiat into btc , also enabled by a probably approval at some point. I am short term long, mid term short, longterm always .
I should have sticked to this plan, but fortunately then my backup plan came into play as soon as BTC unexpectedly turned bull: Buying large amounts of altcoins. They were my backup plan, in case of unexpected BTC pump, because they always lag behind BTC a few months.
Some more than others.
But yeah, in hindsight I should have had more confidence in BTC hehe. Well, that's the beauty of hindsight isn't it. Makes everything look so obvious and easy lol.