Bitcoin In a Pennant - Off to New ATHs or Do We Correct Further?

Looking at the daily chart, I see a big pennant forming. We have three consecutive lower highs and higher lows. It's a nice set up to go either way. Personally I feel that we have to correct more. Not to sound like a perma-bear, but after gaining nearly 5x with very little correction makes me suspicious of any further upside until we retrace a little further. Plus, I believe it is healthier for BTC to correct now and then attempt a new all-time high before the new year is over. At the moment, BTC or Cash are the safe places to be depending on where you think the market is going. I think that a hard pump or fall will cause the alts to sell off. Long-term, I'm short. However, I have a sneaky suspicion that we are going to hit the top of the pennant again and come down hard breaking through the pennant support down to the neckline. This would set up a head and shoulders pattern which would take us all the way back down to ~$6,100. This selloff period could be interesting though. Bitcoin has been showing signs of losing dominance and this may be the time that the Alts gain back some of that dominance and have a little run of their own. The alts are at all-time lows and have yet to have their own bull run since Dec-Jan 2018. We have seen signs of rounding bottoms and some have already started little runs (Metal).

I am going to be paying attention to how the alts respond to whichever way Bitcoin goes. Once I see them making positive moves, I'll be ready to pounce.