3 Bullish Altcoins Predicted to Outshine Bitcoin (BTC) in February

These three altcoins exhibit bullish formations against Bitcoin (BTC) and could outperform it in February.

Despite Bitcoin’s (BTC) decrease since January 14, these altcoins display positive price movement. Can they outperform BTC in February?

Chainlink (LINK) Price Breaks Long-Term Resistance

The weekly time frame technical analysis shows that the LINK price had decreased under a descending resistance trend line since June 2020. The decrease led to a low of ₿0.00018 in June 2023.

While the movement seemingly caused a breakdown from the $0.00023 support area, LINK reclaimed it shortly afterward, turning the decrease into a deviation (red circle).

The LINK price broke out from the trend line after over 1,100 days, reaching a high of ₿0.00045 in November before falling. The ensuing decrease validated the ₿0.00042 area as resistance.

Despite the drop, LINK regained its footing and is attempting another breakout. If successful, the price can increase 100% to the next resistance at ₿0.00075.

The daily Relative Strength Index (RSI) supports the upward movement. Traders utilize the RSI as a momentum indicator to assess whether a market is overbought or oversold and whether to accumulate or sell an asset.

If the RSI reading is above 50 and the trend is upward, bulls still have an advantage, but if the reading is below 50, the opposite is true. The RSI is above 50 and increasing. Both are bullish signs.