The correction coming from 20000 looks like it could end soon, hitting a low around 11500. After building a stronger support around 13000 the last days there are good chances for a move back to 20000. However, there is still the possibility to be considered that there could be a move down to 9000, because the uptrend from the correction makes a weaker impression than from dec 17. But this scenario is becoming less likely with every day the bitcoin can stay over 14000 building support. However, there might be a technical move to a possible new bottom trendline leading back to 13000. But maybe that isn't even happening and we go directly to 17000 and from there to 20000.
At this point a smaller correction at the all time high could be thinkable, leading later to (at least from a cyclical point of view resp. the fibu projections) about 25000. In a very bullish continuation scenario even over 30000 could follow, but i can't really believe it after the massive rally in dec 17 and still uncertainty about how the crypto markets develop in 2018. What's definitely sure, the risk is increasing over time. Especially bad news, regulation in different countries or other setbacks or the raise of another cryptocurrencies can hit much harder with high volatilty, than before. In such a case a drop to 9000 or even lower within a few days our even hours is totally on the cards.
But i still think there will be still long term potential for the bitcoin in 2018 and good news, like the ETF or other practical applications, technical improvements etc. and so much more. Even though it's a possiblitly, i would be surprised if we stay under 10000 for a longer time.
At this point a smaller correction at the all time high could be thinkable, leading later to (at least from a cyclical point of view resp. the fibu projections) about 25000. In a very bullish continuation scenario even over 30000 could follow, but i can't really believe it after the massive rally in dec 17 and still uncertainty about how the crypto markets develop in 2018. What's definitely sure, the risk is increasing over time. Especially bad news, regulation in different countries or other setbacks or the raise of another cryptocurrencies can hit much harder with high volatilty, than before. In such a case a drop to 9000 or even lower within a few days our even hours is totally on the cards.
But i still think there will be still long term potential for the bitcoin in 2018 and good news, like the ETF or other practical applications, technical improvements etc. and so much more. Even though it's a possiblitly, i would be surprised if we stay under 10000 for a longer time.