is really confusing ,at least to me , as I am so eager to short it. But may be I was wrong, or right but with the wrong timing .The 4h charts presents an ascending pennant
pattern that follows the trend line
since 15th of September(refer the fork). I believe that now we have reached the bottom of the fork and we are facing 2 options as always up and down. As it is ascending and we have bull market for 45 days and we expect the segwit2x I believe that we will need to reach 7k before going down.
In opposition to that idea -
Since 1st of September 2017 the crypto market cap hasn't grown and moving under 180 billion. And in order Bitcoin
price reaching 7000$ or 7500$ ,we need to attract fresh money (15%-25% = 15 - 25 $ billion ) or squeeze out the Alts. I believe that both things will happen if we go in that direction.
!!! HAVE IN MIND!!! I am just sharing my point of view , I am not professional, just enthusiast. Cheers!