Bitcoin has made quite the run-up over the last few months from 31xx to 99xx. The bulls are fighting strong and I do believe that we have entered a full blown bull market.
That being said, even the strongest bulls cannot fight indefinitely.
Ideally, we see the bulls take a small breather here. the 10-11k mark still may be breached but I don't expect that psychological milestone to hold for long. Look for a slight retrace to the 0.382 and in an even better scenario, the 0.5.
The 0.5 level (~6500) has shown very strong support historically and I would be surprised if we correct further than this right now. That being said, this is cryptocurrency - FOMO and speculation lead the charge in these markets.
That being said, even the strongest bulls cannot fight indefinitely.
Ideally, we see the bulls take a small breather here. the 10-11k mark still may be breached but I don't expect that psychological milestone to hold for long. Look for a slight retrace to the 0.382 and in an even better scenario, the 0.5.
The 0.5 level (~6500) has shown very strong support historically and I would be surprised if we correct further than this right now. That being said, this is cryptocurrency - FOMO and speculation lead the charge in these markets.