The new 2019 has begun successfully for the cryptocurrency market. Prices stopped their fall and began to gradually recover their positions. In addition, the capitalization has slightly increased, which now amounts to 137 billion dollars. Top five cryptocurrency remained virtually unchanged, except that Efirium again ranked second in the ranking.
When analyzing the graph of the price of Bitcoin, we state a decrease in the activity of traders in connection with the holidays, which affected the price. Volatility over the past week was relatively low, in fact, as well as changes in price.
Now, the price continues to be in the flat between the values of 3500 4150 dollars for 1 BTC. Obviously, the bears are exhausted to push the price down and now it is quite possible to change the trend. In addition, a head-shoulders reversal pattern (marked with blue lines) is being completed on the daily chart.
If the price breaks through the mark at 4200-4500, then there is a high probability that the price without any interference will again reach 6000, since historically the price has never been delayed in the range between these values. In such an uncertain situation, we have no choice but to observe from which side the price will meet the least resistance.