That is a very good question, one for which it is very hard to tell. Looking at it from a technical perspective. If we do a simple Fibonacci from the start of the last run on the Daily Chart, it puts us at a 50 percent retracement which is spot on, contract, consolidate and move on upwards. Add to that the 1 DAY StochRSI shows us as oversold now, and we really don't have a ton of divergence between the MACD and signal line. The histogram, however is trending downwards.. summing it all together its a mixed bag, but leans towards Bullish.
That said the 3 day and 1 Week, are more Bearish as we have not had a significant weekly correction in 3 months.
Either way the charts have to be honored, so based on experience.. I would say one of two scenarios.. Its trades in a range for a prolonged period between $14,000-$15,000 moving sideways until it can shake some HODLERS and alleviate the divergence in the 3 day one 1 Week Charts
Or we have another sharp drop that will be somewhat longer in duration before consolidation and carrying on.
DAILY DETAILED MARKET ANALYSIS, GIVE IT A READ, MAKE SOME MONEY OR SAVE SOME...
https://steemit.com/bitcoin/@pawsdog/12-9-2017-the-market-view-and-trading-outlook
