Unfortunately I agree with Mike Novogratz. The bounce we are having right now probably can carry us to 16k to 17k area, but I do think we will see second leg down quite soon. It is the second leg determines if BTC will break down or consolidate further.
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Yes, @itsok, I agree that how that second leg turns out will be very important as a signal for buying strength over the intermediate term. Please see my review of CME action here : https://steemit.com/bitcoin/@lestatisticien/bitcoin-will-not-show-another-explosive-price-jump-before-june-2018-cme-futures-forecast