At current prices everyone is getting ready their Over 9000 memes but in my opinion it seems that this rally is taking a brake, if this break takes too long it may take until around the begining of August but if it takes longer and takes it to the edge of August 5 or close to the 9 if we don’t get the ETF around those dates I think we may see a selloff that can take BTC back to $7k, with resistance at $8400 it wouldn’t take too much of volume to go into the next step of resistance $9k, BTC will consolidate from now, next week probably wont be as explosive as this last two weeks, nothing goes up forever and having a move over 35% since $6100 range traders will start taking some profits and that money will now go into altcoins, basically at this point ,unless some bad news comes out in the next two weeks; almost any altcoin in the top 100 will move significantly after trades take profits from the BTC rally.
On any market to make it out you need to be ahead of the next move, don’t start trading when markets start to move, you need to be ahead news and always think what will go wrong with your trade, this is not having a pessimist mind-set its basically risk management, selling at the top is not what generates success is selling within a safe range were you can take profits and start building your next position.
When BTC 9K? it will all depend how much volume and positives news we get next week since for now BTC is taking a break after this nice smooth rally, take in consideration we just move 35% ish on less than two weeks, I do believe we will see BTC over all time highs again before the end of the year but its better to have significant moves with consolidation than parabolic growth.
Best wishes, good luck
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