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We could be in a sideways market for months - BTCUSD

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
We could go sideways for a couple of months if the support is not broken. We made a higher low, implying the support looks strong so far. If we break the first resistance and cross above EMA50, we can see a double bottom in works, which on failure to break the second resistance would further confirm the sideways movement of BTC .

The long-term trend of Bitcoin shows that it could be in accumulation phase after a blow-off top at 20k. This sideways market is healthy for further continuation of a parabolic trend on a much larger time frame (weekly).

Regards,
nsai
The trend has broken down which implies an obvious down trend
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