BTC has been trading inside a bull flag since this past summer.
The lower trend line of the flag has continuously provided support and hasn't been broken.
Imho we are going to see a bullish breakout toward the end of this month or as late a February.
An early breakout can occur from current prices, however it can fail on the upper trend line of the flag and retest the lower trend line. Or, it can test the lower trend line and then breakout.
A dump below the lower trend line would invalidate the flag, however, I see this scenario as unlikely, although the bottom of the trend line around February is around $5700 so imho we shouldn't see any price lower than that.
Many indicators are currently neutral or in the bearish region, so it may take few weeks or 1-2 months to breakout.
Altcoins seem to turn bullish too, and a bull market may be around the corner. However a retest of the peak for the dominance seems likely.
This doesn't necessarily mean we will see lower lows, a BTC breakout could raise the USDT value of alts, while retesting the bottom on the BTC pairings of alts (this is what happened in November 2017, which preceded the peak of the 2017 bull market).
Checkout my calls in the related ideas, for example the 3x profit on MATIC from $0.01 to $0.03 and the short on ATOM from $4.100 down to $2.600.
The lower trend line of the flag has continuously provided support and hasn't been broken.
Imho we are going to see a bullish breakout toward the end of this month or as late a February.
An early breakout can occur from current prices, however it can fail on the upper trend line of the flag and retest the lower trend line. Or, it can test the lower trend line and then breakout.
A dump below the lower trend line would invalidate the flag, however, I see this scenario as unlikely, although the bottom of the trend line around February is around $5700 so imho we shouldn't see any price lower than that.
Many indicators are currently neutral or in the bearish region, so it may take few weeks or 1-2 months to breakout.
Altcoins seem to turn bullish too, and a bull market may be around the corner. However a retest of the peak for the dominance seems likely.
This doesn't necessarily mean we will see lower lows, a BTC breakout could raise the USDT value of alts, while retesting the bottom on the BTC pairings of alts (this is what happened in November 2017, which preceded the peak of the 2017 bull market).
Checkout my calls in the related ideas, for example the 3x profit on MATIC from $0.01 to $0.03 and the short on ATOM from $4.100 down to $2.600.
