BTC implements the Inverted Head & Shoulders pattern. Alternative coins are within their flats, there’s no specifics on them, 8848 Invest’s analyst Mark Sorokin insists.

Over the past week, the market situation hasn’t changed significantly. Even taking into account the previous principally good statistics, the market hasn’t been able to show a powerful movement. There was a slight local decline to the support levels on Monday night.

‘Generally there’s a bet on Inverted Head & Shoulders pattern work for BTC, which is clearly visible on a 2-3-hour timeframe. In principle, the coin may go to the $21,000 region,’ the expert notes.

Here you need to anticipate the statistical probability, so a decrease is also possible. The most important is to avoid reaching the $16,000 area. It will be the flat movement continuation and will send the coin to the $15,000 mark and even slightly lower.

Altcoins

Alternative coins keep their flats, coins move from the upper flat borders down to the bottom and back. There’s no specifics on them. We need to wait for these lateral movements to be recouped.

US Inflation data is expected to be published in the first half of the week, again in the US, and the next Fed meeting of the is scheduled for Wednesday. These data that can cause serious volatile market movements.

‘As expected, the authority head Jerome Powell will talk about the prospective of interest rates and monetary policy changes. If the official will draws specifics, the participants will understand the medium term financial markets’ movement & development vector,’ the expert summarizes.