The Idea of a Bullish Run is definitely exiting, specially for this year, but I have to agree with some partners that I don't see a new ATH or a Bull Run like 2017 for this year, maybe 1st Q 2019, and maybe we will start seeing an uptrend movement at 4Q of 2018, I don't know I'm not a prophet, but these 2 things can happen in the next weeks.
Thing #1: we can go to 9k and be rejected by resistance and going for a retest to the major support area, where we will bounce again an finally cross above resistance to the 12k level, We can be rejected again in the 12k area to 7k and below because theres a MAJOR RESISTANCE over here, if we get to cross over this level (12k), we definitely are going to moon.......
Thing #2: We are going to 9k and be rejected by this resistance, going for a retest to major support area, where we cannot hold this level and we fall off of a cliff to the 4k area not mooning, this is very Bearish situation, but you cannot send this scenario to the trash, after that, we can see the end of this market cycle and bounce hard again making it a bull market.
Another thing you have to consider in this big Triangle that has Bitcoin is the decrease in Volume since the beginning of 2018 till nowadays, the closer we get to the end of the triangle, the lower the volume, so Selling Pressure is getting Weak.
Let's see what happens, just be prepare for any direction the breakout moment could take.
Thing #1: we can go to 9k and be rejected by resistance and going for a retest to the major support area, where we will bounce again an finally cross above resistance to the 12k level, We can be rejected again in the 12k area to 7k and below because theres a MAJOR RESISTANCE over here, if we get to cross over this level (12k), we definitely are going to moon.......
Thing #2: We are going to 9k and be rejected by this resistance, going for a retest to major support area, where we cannot hold this level and we fall off of a cliff to the 4k area not mooning, this is very Bearish situation, but you cannot send this scenario to the trash, after that, we can see the end of this market cycle and bounce hard again making it a bull market.
Another thing you have to consider in this big Triangle that has Bitcoin is the decrease in Volume since the beginning of 2018 till nowadays, the closer we get to the end of the triangle, the lower the volume, so Selling Pressure is getting Weak.
Let's see what happens, just be prepare for any direction the breakout moment could take.
Right now we are on the major support at 6.4k, it can bounce a little or go straight downer.