This pattern is looking familiar...

Looking back at my all time BTC chart we see a clear channel support established where BTC has historically seen a reversal. For several weeks we have been riding right up that line. While we might expect to continue predominantly sideways movement for a several more weeks, a potential bottom appear to be establishing and as long as support continues to hold we can expect a breakout eventually, but more importantly an end to the year+ bloodbath. This is how it played out in 2015 and I will be watching for some of the same this year.