Bitcoin is having lower lows and lower highs, which implicates that it's still in bearish move.
Right now BTC is in so called "triangle formation" in which price is bouncing back and forth with short bull or bear-trends.
Bearish moves were shorter and shorter and now, temporary, it's in bull-trend. I assume that BTC can reach upper triangle resistance line at around $8,000. Before going back down.
On bigger scale there are 2 targets for BTC that can be reached. First at around $4,200 (78% correction) and second one at around $2,300 (88% correction).
Which level will be reached, I don't know. Alt's like to retrace to even 94% of previous gains and even beyond that.
This correction may take a while, but after that Bitcoin will surely rise again with new wave of investors.
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