- Upcoming weeks: retesting $10.000 and trying to breach the red downward
- Upcoming months: if it fails to break the red in the short term it's going to follow it downwards to set a new last low around $5200 up to flash crashing to $4200 (rough estimates)
- Second half 2018: recovery and consolidation
- Start of 2019: on the path to new ATH's
- What I don't like about this chart is how similar it is to the behavior of BTC since 2012, but that's how it is so far.
- I think setting new lows for the cryptomarket as a whole could be a good thing, it might weed out all the bad actors, delusional "average joe" investors and the many coins which are just plain scams. During this process BTC would regain a higher share of the total market
- Given how the Lightning Network 0.4 beta has been released recently and seeing how eager people are in adopting it by setting up nodes and whatnot, I think in the upcoming year this could be a really big driver for continued adoption and positive attention to Bitcoin . Perhaps the time will finally come to be able to spend our Bitcoin everywhere without converting to fiat (the reason why I got into it in the first place)!
For the short term the long term support lines indicated in blue are about to be tested, meaning we might dip to around $4000,-.