The charts says it all. Short term bullish reversal underway on 4hr chart and all the way up to 23 hr hour charts.
1st upward goal is approximately @ 9.2 USDT. There is a vague possibility for BTC to shoot up around 9400+ USDT and retest 100 moving average again.
This can become long term bullish if it shoots above 200 MA and stays above this time. But only time...
Volume has been slowly fading. Bollinger bands have been constricting on the higher time frames (12 hr - daily charts ). Most like scenario would be for LTC price to take a dip down to lower support levels.
Support range would be in 40 - 48 Dollar range. But i think that it would drop somewhere close to 35 dollars range before bouncing back into the 40 Dollar...
Either you see bitcoin in an ascending channel with a high likelihood of breaking down , or you see bitcoin in a descending channel with a high chance of breaking upwards.
Most analysts are calling for much lower lows and the majority has a bearish outlook at this point , which makes me much more inclined towards a bullish scenario.