Besides the sensation that the bulls are back, we are in a dead cat.
We still have three fundamentals to be tested:
1) The end of the year, which traditionally is bearish.
2) Chinese News Year in the middle of January
3) SEC decision about ETF in the end of February
The two first will bear the market until it reaches the bottom, happening between 10 January and 19 January. This is also the ending of a big formation that started more than 15 months ago.
The third one will start to pressure the price up as soon as the closings caused by the Chineses.
If approved, the ETF will rocket the price back to $10.000 in two or three months
We still have three fundamentals to be tested:
1) The end of the year, which traditionally is bearish.
2) Chinese News Year in the middle of January
3) SEC decision about ETF in the end of February
The two first will bear the market until it reaches the bottom, happening between 10 January and 19 January. This is also the ending of a big formation that started more than 15 months ago.
The third one will start to pressure the price up as soon as the closings caused by the Chineses.
If approved, the ETF will rocket the price back to $10.000 in two or three months