Crypto Market Cap Records New Two Month High; Is Correction Over?

[Dollar_Hunter]

as long as bitcoin is still below $30k it's still not over, the correction will end if the breakout of the strongest resistance at $30k,
the support magnet at $17.7k support is still very strong, if there is bad news then the price could dump again and try to breakdown, so be careful

[abel1337]

I believe that we are still in a bear market and I can't say that the correction is over since time frame matters. Remember that there will be Mt.gox bitcoin release and I can see a massive dump in the market whenever the release happens. Though it's still speculations on what might happen during the release but I'm sure there won't be a pump during the release, At least it will go stay strong at it's current price at that time. It's near and if something big happens, It could ruin technical analysis.

[Alisha-k]

We’re dealing with the sideways trend for the almost 2 months now and safe to say that correction can still happen if Bitcoin can’t break the resistance and the good thing here is that, BTC able to do it and slowly we are pumping again. This might not be enough but if we see more green candles then that is the confirmation that this market is about to rise again and will soon enter into a bull market.

The resistance zone was long broken but price has failed to push up ward after the breakout. For now stronger confirmations are needed to predict what direction prices will possibly cling to if it sticks towards correction or continue the bull trend. The two months high Bitcoin price experienced could be a relieve to traders or a consolation but no one knows what the market has next for traders

[FlamingFingers]

The fact that Mt Gox still has bitcoin to release this month will not make me feel much bullish on this market, on a good note, we ought to have seen the bottom which is $17k,but the market is highly manipulated, they might send it to $17k again to form double bottom, if bitcoin breaks 17k the total crypto market cap will plummet, there will be lots of fear. As of today bitcoin is forming a bearish divergence on higher time frame, its best to watch the market before jumping in, this might just be a retest of the crypto market cap resistance

[virasisog]

There have been small pumps that seem to be corrections but that doesn't mean that we're already recovering from the bearish season. Bitcoin is still at its bear price and I guess it will still take a long time to reach its high price again. However, it's still a good opportunity for everyone to earn as long as we know how to deal with BTC's volatility. What matters is we're able to grab the opportunity to accumulate Bitcoin during this period.

[South Park]

There have been small pumps that seem to be corrections but that doesn't mean that we're already recovering from the bearish season. Bitcoin is still at its bear price and I guess it will still take a long time to reach its high price again. However, it's still a good opportunity for everyone to earn as long as we know how to deal with BTC's volatility. What matters is we're able to grab the opportunity to accumulate Bitcoin during this period.

It seems to me that the people that have not been around for long in this market need to take a look at what happened in the past, and while it is true that we cannot use the past to predict the future, at the same time it is the best tool we have so we can extrapolate what it may happen, and in this case it is obvious the bear market is going to continue for a long time, we may have an increase in the price from time to time but that is all what it is and people should not deceive themselves and think that it is something more than that.