Odaily News Independent analyst Arjantit said that Bitcoin’s current consolidation cycle may last until the end of February, mainly for the following reasons:
Bitcoin price is consolidating after 15 weeks of gains (+105%);
As long as BTC/USD remains above $90,000, the daily trend structure will remain strong;
However, a drop below $90,000 could be a “buying opportunity”;
The consolidation cycle may end by the end of February, after which BTC will rebound to $120,000. (Cointelegraph)