As Bitcoin rallies from yet another dip more people begin to call bottom as they have done all year. The technicals do seem to support the idea but it is important to remain unbiased in order to avoid disappointment.
The long term view of Bitcoin is still bullish and the long term trend remains intact. The question is have we seen the end of the bear cycle?
We need to find a strong support zone above 9000 in the coming weeks to ensure short term gains. even a rally to 12000 could be short lived as the rocket ship nature of Bitcoins price may have finally ended once and for all. 9000 is the key level as we have converging moving averages and support from the cloud.
