We are in a correction or just have gone thru one, that may feel horrible for many. BTC basically lost over 50% from its ATH, ETH went from $1400 to $750 and most many alts lost around 50% of their market-cap.

Today everything is green.

There are a few things that make me optimistic we may have found a support. I believe we are either going to rally or into a bear market. I don't think staying were we are or doubling up for this market over 2018 is likely. There is simply to much energy in this new ecology. Its price has to go strong in whichever direction it is going.

1. Fundamentals

There has been so much growth, people, money, projects and media attention that has come into crypto that I feel prices are not that crazy overall and bitcoin is very cheap. Yes values, prices and evaluation have gone up tremendously. But so have google searches, media attention and friends who used to giggle at me now asking me with awe about bitcoin.

There are many other fundamental values that feel like right now is a cheap price to buy and make me look forward to 2018: from the Mayer multiple, to ICO investments as well as simple things like friends asking me how to invest into Bitcoin, or how to buy Ripple. There is simply so much a growth that has happened over 2017 that is way more than the 10x price increase that bitcoin shows.

Also what is apparent to me still is how much of a brand awareness bitcoin actually does hold.

2. January corrections are common.

In this post @ehujra makes a fantastic job showing how common corrections are in January and how they all look like the one we just went thru.

You may wanna go over to that post and show @ehujra some love with an upvote.

In the last 3 years we have had similar corrections like the past few weeks.

3. Trend confirmation

It looks to me like a new uptrend has just been confirmed for the 3. time. Those are usually quite strong as now the trend becomes clear to most.

In addition how the price reacted at the point of the trend reversal makes me optimistic.
We have strong volume on the red candle with immediate strong volume on the green candle. Also we have a hammer, a candle that goes very low but then comes back and closes very close to the opening. With that come a very long "handle" which shows that there is lots of volume picking up coins below the trend. This is bullish.

Ethereum shows similar patterns. We have the confirmation of the trend and a hammer.

We will see over the next few days, if we are going down further. I think this all looks pretty good.

Good luck!