Concerning BTCUSD , it is safe to say that we can anticipate a big test in the coming few days, concerning the "death cross" of the 50MA and the 200MA, on the .
One cannot be sure if so will happen, but for sure only the most experienced amongst us should be willing to take on a bet in this moment.
There were several buy opportunities below 8k in the last few weeks. Bears should wait for the referred cross test, with a Stop Loss at 11.5k.
Personally, I do still expect a Fibonnaci retracement of 0.786 to 5k (with the low of 1k on 01-01-2017 and the high of 20k on 17-12-2017), waiting for buy opportunities at any level between 5k and 6k.
Coincidentally or not, 01-01-2017 marked the first time in some years that bitcoin reached again $1000 (bitstamp, bitfinex and coinbase).
Of course, on the Fibonnaci retracement graph, the position on the x-axis (date) does not matter. Only the coordinates on the y-axis (price) do in fact matter.
That day is, both by being the first of a new and very important year for bitcoin and also by having the price reaching again $1000, an important historical reference in the cryptocurrency space.
That is why the coordinates of the beginning point of the Fibonnaci retracement I referred are on that very special day.
If there is a cross, much better buying opportunities will come.
If there isn't a cross, any level below 10k is a good buying opportunity in the long run.
Instead of always wanting to be bulls or bears, it is safer for investors and traders to be a patient buyers at this time and just to wait for a good buying opportunity. It is very risky to make a sell now.
Personally I won't sell, as I am invested on cryptocurrencies for the long run. But I am waiting for a better buying opportunity below 6k.