Been travelling the world the past months and took break from crypto, while accumulating my favourite coins, IOTA, VTC, NEO, OMG, XRP. Had good profits on SYS and ZRX :)
Of course, Bitcoin will still be the compass of the crypto market as to where it will head to.
In my charting, I can see a cup and handle formation that may be forming on the weekly chart. If we sustain the red-dashed bold trend-line, we could be retesting the 10K level in a few weeks which will be slightly bullish, as long as we establish the current red-dashed bold trend-line for another test to form the handle. If we establish this trend and make a higher low, then we could be forming at last the new bull trend.
Note that if we do break down this trend line, a possibility of bottoming back to 5700, following the hidden descending triangle pattern and maybe a stronger break down to 4800-3000s.
Of course, Bitcoin will still be the compass of the crypto market as to where it will head to.
In my charting, I can see a cup and handle formation that may be forming on the weekly chart. If we sustain the red-dashed bold trend-line, we could be retesting the 10K level in a few weeks which will be slightly bullish, as long as we establish the current red-dashed bold trend-line for another test to form the handle. If we establish this trend and make a higher low, then we could be forming at last the new bull trend.
Note that if we do break down this trend line, a possibility of bottoming back to 5700, following the hidden descending triangle pattern and maybe a stronger break down to 4800-3000s.