The market is currently green and trying to rebuild itself by stabilizing some coins. We have seen some drops these past days, but nothing too major, so there is no need to panic, we are slowly but safely reborning.
If we look on the majority of the graphs, we are basically seeing flat-lines which indicate either a near future explosion of the market due to another bull run or a bull ‘trap’ and the market could go bearish. The same thing happened on Christmas when we’ve seen some stability for a while and suddenly the market exploded under bullish influence.
Some coins are currently indicating they will be going on a bull run. We see some stability on Ripple which was trading for 90 cents yesterday and has reached more than $1 today, the same thing happened with Bitcoin Cash. If you look at the last four days, most of the coins have had some serious gains, there is no sell-off or peel-back, which might indicate a healthy correction. For people who bought Bitcoin for $6,000 or less, they will probably get profit over the nine mark.
Interesting thing will be happening next week, the Lunar New Year is not done yet, so the action we will see will start from the middle of the February.
Some corrections will be taking place until February 16 and afterwards, we are going to see some 25-30% bull run when the Asian market starts to come back.
The US will come back in early April with another tax return bull run which will end with another correction in June or July, followed by a bullish trend in September or October.