We have broken down from the peak of a rising wedge pattern forming a new resistance level. A correction is expected from a setup like this one.
Note that this is part of a larger wedge pattern that when broken should indicate the direction of price over the coming weeks.
It is possible that we lose support and go on to form lower low, especially if the market is hit with any negative news .
Overall the bulls do appear to still have the market so as long as we can break resistance this should still be the case. I don't expect any massive runs up but a steady grind to that $15000 target over a couple of months seems more likely.
Total Market Cap: $445,461,225,171
BTC Dominance: 41.6%, 24hr+0.5%
50% is still the key level to watch.
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