A nice analysis for sure, but I have found that one thing TA can not do is take into account FUD, new protocol implementations, futures, hacking, etc.

I think we are going to surpass $9,000 easily, and with the introduction of CME futures, this will have a significant impact on the market, which could go either way.

I also think that, consideration needs to be given to an ever-growing problem of the massive impact some exchanges have on BTC prices. Tether being ‘hacked’ produced a pullback for BTC, and depending on opinion, if we look at the ‘potential’ link between BitFinex (biggest exchange and volume for BTC) and Tether being owned by the same ‘people’, and the issues that exist behind them both, could cause another dip in price for BTC. Or maybe a rise, depending if ‘more’ tether is ‘made’.

Playing devils advocate, if we had a nice rise in price, exceeding RSI, MA and MACD, futures and margin trading happening to high levels, alongside a correction which should come after a long term price hike, exacerbated by BitFinex and Tether, we could see a few scenarios playing out.

But I will remain conservative in my opinion so as to avoid FUD.

Either way; we have just had a correction but to some it might not seem that way due to the fluctuation in price caused by the BCH interaction, thus, not seeming that we really hit a low which was sustained; because we bounced back very quickly.

Should be interesting…

If in doubt, HODL…or buy futures.