The market is in a weird spot right now, none of the possible events that everyone was predicting would cause a bull run caused a bull run, the TA is all good but there seems to be fud in the air, specially for new investors but there's also some good news around the European union regarding cryptocurrencies in general not only bitcoin, but if you want to trust the TA, its pretty attractive looking.
We may be closer than you expect to that 12k level, especially since Mr. Cocaine hpmf, i mean John McAfee is running for president, he will bring the crypto to the masses and will replace old mighty Roger Ver as the new crypto Jesus!
I think @milano1113 describes the situation quite well (see comment a little further above). Even though the underlying fundamentals are bullish, and the charts look strong, negative price action could persist for a while longer. @trendo says pretty much the same thing in a different way. Nothing seems to get a fire lit under these quality issues. That having been said, price is holding up fairly well across the board, or at least that's what the TA is telling us. Patience is the key word I think we all agree on.
Wow his comment is pretty good and on point, I agree with him regarding how the institutions and big money pumped the price of bitcoin too early to take advantage of the futures market and I guess the professionalization of teasing, at least on the top coins is not a bad thing, there will still be room for wild gains on the alt coin market and new promising ico with good backing.