Title might be a bit confusing. I believe the correction will be over with the break out. And I am confident that btc will go up for the following reasons: - Hashrate is slowly going up again after halving. - Income of miners is the same like in oct 15. Means price and production cost is very close. - Less selling pressure because of halved block reward. - The second price drop was caused by the finex hack, dust has settled, volume has moved to btc-e and Bitcoin is still Bitcoin. - A lot of money is on sidelines - Bitcoin is needed to join the booming alt market
I think another major drop would require a new bearish event, otherwise we will leave the structure and sideline money will buy in again.
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my guess for next days
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nice <3
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ukmartyn
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Ok, now you have added fundamentals as your evidence, fair enough. So the trade is long the breakout, a standard TA trade.
zippy1day
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A bit premature I think albeit I agree it will go back up there but I don't think near term....
ukmartyn
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A bit misleading. The correction isn't over according to your chart. You are suggesting trading the breakout, when it hasn't broken. Your comments show your bias and a future strategy based on assumptions.
koryu
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yes title is bit misleading but see my comment above