And the daily linear chart:
On the hourly chart, it looks like we're breaking out of a bull flag:
Anyway, that's it for this analysis. I think if ETH breaks out here (just as Litecoin broke its ), it would nearly confirm that the bear market is over. I know it may be a little premature, but I'm just curious to see how this plays out. Additionally, I speculated back in November that January/February 2019 would be the earliest end to the bear market. However, caution is still always needed. It's possible that we have a fake breakout and head to new lows, since anything can happen in this market. Bitcoin is struggling a little bit to hold current levels, but it seems that bears are indeed starting to get exhausted. To me, many alts really seem like they're forming solid bottoms with clear accumulation. REMEMBER, we are at a major 2 year long resistance, so a drop is possible as well!
This is not financial advice, and I'm not a professional. I just enjoy this market and analyzing it. Full disclosure, I bought Litecoin at $32 and ETH at $107 recently. Maybe I'm wrong. We'll see.
1) scale - the present day bottom has taken 2 months longer to form.
2) We've tested the red trendline twice already as resistance in 2019, whereas we only tested it as resistance once in 2017.
Interesting to note that the potential conclusion of the bottoming formation will occur at exactly the same time of year, if this plays out.