Macro forces are brewing, while Bitcoin network fundamentals defy the bears — which side will win out when it comes to BTC price action?
That breakout event has already been forecast on lower timeframes, these coming true on Friday as United States jobs data sparked a brief sell-off, which cost bulls the $20,000 mark.
“Very unusual to see Bitcoin squeezed at historical low volatility levels on rising volume,” trader and entrepreneur, Jordan Lindsey, told Twitter followers as the week ended.
Lindsey referred to a narrowing of Bitcoin’s trading range coming in tandem with trade volume rising — the latter a key component of sustained breakouts.
A notable comparison is October 2018, just two months before the previous cycle’s bear market bottom of $3,100.
“While it's reasonable to expect a large move now more than ever, It's also important to note that there were two periods in the past when Bitcoin spent more than 40 days consolidating after hitting these levels.”

Source - COin Telegraph