Bulls & Bears battle out at 7,700-8,400 to define future of BTC

Bulls & Bears battle out at 7,700-8,400 to define future of BTC
Bitcoin / U.S. dollar BITSTAMP:BTCUSD
TenaciousH

My opinion - the Bulls and Bears split inside this support zone (blue box) between $7,700 - $8,400 until it hits the upside of the downward trading range (dashed lines). this is one of the most critical points for a breakup vs breakdown in a long time and will require a very close watch on 15/30/60 minute candlestick chart with one eye on the stock market.

We won't know if its a top range or bottom range until the 200 and 50 day SMAs break out of the downward trading range. I expect an upside breakout during Q4 and a retest of $10k but should be range traded until a true bottom is established. BTC will ride its 200 day SMA until a breakout to the upside near EoY. will also push altcoins to absorb more market share.