There is a lot of discussions going on if this is a bull-run, a bull-trap or consolidation. I don't think anyone really knows but maybe together we could figure some things out. Here are my thoughts:

• Next major resistance for BTC is at 9700 USD. Already testing this once and had a drastic drop
• Turned around at 8700 USD and have been steadily climbing since back over 9k. This shows continued strength

I think we are in a short-term consolidation between 8.7-9.7k where these two levels will determine a more middle-term trend on where BTC will go. If 9.7k is broken there is not much resistance until 11-12k so then we can expect a nice 15-20% gain. On the other hand if we go down below 8.7k then I think next level of resistance isn't until around 7.2-5k which is around 15-20% decrease. So the benefits/risks on either side are about equal so I am avoiding trading this until we can get a clear signal either way and I am also avoiding doing to much movement in my ALTs since this will be determined by BCT.

What are your thoughts?