Bitcoin (The end of consolidation)
Bitcoin needed some consolidation after its huge run over November and December. This consolidation that is currently happening is creating huge support for BTC in the future. Now the question is when will this stop. Looking at the chart BTC did complete a bullish inverse head and shoulders pattern. After completion the price has been falling however not enough to invalidate the pattern. To become invalid BTC must dip below the head of the h&s. If BTC does bounce near the $6000 area it will firstly confirm $6000 as support and also keep the inverse h&s valid. From this there is a good chance of a huge double bottom reversal forming. There could easily be a run up to the neckline of the inverse h&s. Look for a large buy volume around this area, the top of the old downward channel remaining as support and a breakout of the top of this current downward channel to confirm a bottom.
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