The current situation resembles a lot the one we had about two weeks ago. For now BTC re-tested the critical support at $3600 and managed to climb up a bit. Possible targets could be the significant support turned resistance $3700 (along with 200 days moving average line and Fibb retracement level 38.2% of the last decline), or even $3800. The next support levels are at $3600 (current area), and $3480 – $3500. The last is a crucial support zone. Breaking it down could lead Bitcoin to discover new lows hadn’t seen yet in 2018. Breaking down the $3500 could lead Bitcon quickly to re-test $3300 support.
As an longterm investor who invested much earlier than most of all, I still think that btc will go up again. Before this there is a cycle that needs to be completed all the way. So lets have a look at the base trend.. There are still 2 lines below the actual value of btc. For sure the amount of people buying in is alrady growing but we all know that this whole market is based on what we call whales or maybe institutional investors. They will wait until the very end, just because they can. Wait with all kind of margin leverage until there is a clear patarn. We will see it when it's time (very long candle shadow on the weekly)