XBTUSD

BTC is in a massive symmetrical triangle. The probabilities favour a upward breakout; however, be cautious and build your position on the support ($8.9-9k). If btc falls through, your losses will be minimalised, if btc breaks upward, you will have already built your position and won't panic if there is a retest of the upper trendline of the triangle (~9.2k). The breadth of the triangle is ~10% so expect the breakout to be of similar extent which, if it breaks upward, would put btc at around ~10.2k. A daily close around that area would be great. I am expecting the move to be volatile and think alts will suffer as a result. It might be better to put capital into larger caps which have enough liquidity to follow btc's moves.