Earlier this year we escaped the narrow downtrend by establishing support on previous resistance. However, the recent rally was unable to stay above resistance despite temporarily breaking it. Hence, we are on our way back down.
Anyone saying we will start a journey to a new ATH again as early as 2018 is absolutely mad. I don't know the price $BTC will ultimately settle at, but the descending wedge may offer some guidance. My prediction; BTC will continue to shake-out alts and reestablish dominance at the 50-70% figure, while the total market cap continues to settle. At whatever point it may start to consolidate we can see an alts season - with margin traders looking to reinvest some profits.
Anyone saying we will start a journey to a new ATH again as early as 2018 is absolutely mad. I don't know the price $BTC will ultimately settle at, but the descending wedge may offer some guidance. My prediction; BTC will continue to shake-out alts and reestablish dominance at the 50-70% figure, while the total market cap continues to settle. At whatever point it may start to consolidate we can see an alts season - with margin traders looking to reinvest some profits.