It is currently forming an ascending triangle, which is a bullish pattern as it is indicated on the chart.
We have also outlined the volume gap that is very close to the possible bullish breakout of the triangle. Our team is pretty confident that a breakout to the upside of this triangle is possible to happen in the next 24h since the triangle is closing to a breakout.
We believe this time is very probable for the alts to follow.
Furthermore we noticed the volume gap in BTC trading between $6800 and $7200 which is making this forecast playout even more probable.
One more thing supporting our conclusion is that the big bitfinex whale has been spotted lurking in the exchange orderbooks once again and pushing support levels higher and higher.
Looks like the shorts squeeze we were warning about several days ago is coming closer and closer.
Given all the above we would recommend taking a long position in cryptocurrency if btc breaks out to the upside and closes a candle above the upper resistance of the ascending triangle highlighted in black on our chart.