Ekta Mourya
FXStreet
Bitcoin price trend remained undecided as the asset sustained above $19,000 through the release of CPI data and US FOMC minutes. Analysts focus on total altcoin market capitalization, to identify a breakout in crypto within the next week.
Also read: Shiba Inu holders get bullish as Shiba Eternity rating climbs on Play Store
Justin Bennett, an internationally recognized Forex trader and crypto analyst evaluated the total altcoin market capitalization and predicted a breakout in cryptocurrencies by mid-week. The analyst noted that altcoin market capitalization is coiling inside a four-month terminal pattern after a recovery on Thursday.
Bennett expects an explosive break from cryptocurrencies in either direction, by October 19, Wednesday at the earliest. Bennett has accurately timed breakouts in Bitcoin, Ethereum and altcoins in the top thirty in the past. This prediction of a breakout therefore implies either Bitcoin could witness a spike in dominance or lose its key support at $19,000 and witness a decline. 
Total altcoin market capitalization
According to Bennett, the quiet period for cryptocurrencies is about to end, and traders need to prepare for volatility in the week ahead. Bennett addressed his setup and recommendation in a recent tweet. The analyst was quoted as saying:
Some of you apparently think I'm far more bullish than I am. I'm not a permabull or permabear. I'm a trader, so I respect the charts. Period. Bitcoin can break higher, lower, or continue to go sideways. There will be opportunities regardless.
TechDev_52, a crypto analyst and trader spotted a 14-18 month BTC corrective wave that continues to develop. The analyst has identified the wave and believes Bitcoin price is ready for a correction in the short-term and reveals a bearish outlook. 
BTC price ready for correction
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Bitcoin price shows a continuation of the bear flag setup with no signs of invalidation yet. A daily close above $19,516 will be the first sign of a bullish resurgence. If buyers manage to flip the $20,737 barrier into a support level, it will invalidate the bearish outlook.
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Analysts on crypto Twitter are looking for the next 1000x altcoin and evaluating hordes of DeFi tokens and altcoins. Based on their bullish potential, analysts have picked Quant (QNT), Ethereum Name Service (ENS) and Maker (MKR).
Bitcoin price triggered a bullish reversal after October 13 CPI that is reminiscent of the July 13 events. The transaction data shows that a flip of $22,000 will open the path for BTC to head up to $27,000.
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