BTC, where you going?

Hi everybody, cryptosludge here.

2017 was an amazing year for BTC price, lets not forget that same time last year we were < 1000$ and now after a healthy correction we are still hovering in the 12k-15k zone - AMAZING.

I just saw a report my pension sent to me, which did a 7% last year and they are patting themselves on their backs, amazed by how well they did...

So if someone thinks the traditional market is going to miss out on the kind of gains we saw in 2017 is deeply mistaken.

So i am super bullish for 2018 for BTC overall. But it doesn't mean we need to invest blindly.

As i do have people i know asking me if the correction is over or not, and if it's a good time to buy we need to start looking at the charts.

TL;DR - We have probably seen the bottom already, but we are not breaking up just yet.

I do not consider myself a TA (technical analysis) specialist ,but i do believe that if enough people look at the same TA indicators and believe they mean something, you can to some extent anticipate what people will do , and if enough of them do it, the market will follow. Also lots of trading is done by bots these days, and it's relatively easy to program a bot to follow TA indicators...

The indicators i mainly use are TD sequential, Ishimoku clouds, MA's, Stoch RSI and Fib levels, also i try to look at major exchanges volumes, margin positions sentiments and margin funding availability.

Looking at the BTC daily chart, i think we are in a consolidation phase, with some price suppression to allow accumulation by whales that took their profits @19k+. Volumes are relatively low , plenty of margin funding is free and not in open positions.

On the 1D chart bellow, so far we are nicely bouncing off the TD set trend line, the 50 day MA. And we kept making higher lows. while the StochRSI clearly in the oversold zone.

However, we are still in a downtrend TD count, so we need to keep an eye on possible lower movements.

On the 4h we are trading bellow all MA's, we are way bellow the ichi cloud and we broke the TD 9 buy count with Stoch RSI in the overbought zone dipping down. But we are still very long to go to the previous 11.9K and 11.5K support lines.

On the 1h we dipped heavily into the cloud, and bounced off the 50MA with StochRSI getting into the oversold area.

So to summarize, the 12.5K-16.5K zone is a no-trade zone for me, i much rather buy the breakout then try to time the dip.

A professional trader i been following @Tone Vays made the assessment bellow and i couldn't agree more with it.

Let me know what you think!

Awesome year to all of you.