We are at the turning point of the market. Waiting for the decreasing volatile cycle which is fit into a triangle, first wave breaking above or below it will determine next massive move.
@tviewcrau, Market should become less volatile in order to subjectively "define" next new bullish wave by exponential growth of positive volume index or be tricked by just a pullback. Wait for the triangular progression as a sidetrend to be completed. However if a correction is not finished yet, then we might see bitcoin dropping even further to $8000 but first we need to pay close attention around the psychological price level of $10000. If it drops below $10000, that would be a very bearish signal. I'll wait a week for the market to correct itself as of the forthcoming market noises which can carry contradictory signals.
omead
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I would love to hear your analysis?
fract
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@omead, wait for the market to calm and become less volatile. Then next big movement out of the formed triangle will coordinate its fate whether it is a start of bullish or bearish cycle. Be patient. Also pay close attention to the nearest red circle and see how market behaves there.
fract
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@omead, why would you care about bitcoin right now? It's been growing for a long time already. If I were you I would invest money into other undervalued digital assets in order to aim at bigger percentages in the long term.
omead
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@investa, The main reason is that BTC's price fluctuations effect the other digital assets specially when it is bearish. I already have a little bit of XRP and XEM and the main reason I bought them was that they didn't follow BTC that much during the last drop. I am new to this world and I am still working on my chart reading and analysis so I can understand what digital asset is better at the time. Do you have any recommendation?