Bitcoin locked in falling wedge?
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You may be asking, why is Bitcoin weaker than Etherem last days. The red downtrendline is the reason. ETHUSD already broken it's major downtrendline weeks ago, and once BTCUSD came close to this resistance (red downtrendline), the traders started to aggressively move the money from BTC into ETH. Just check what did the ETHBTC last 3 days (see picture in comment below). I think the BTCUSD will be stuck in between the red and white downtrendlines in sort of (slightly) falling wedge as shown on chart. This could be quite bullish for altcoins, as the price of BTCUSD would be stabiilized. On the other hand I'm not sure if ETH will be any stronger than BTC, as ETHBTC just hit it's major downtrendline (again see the pic in comment below). What do you think?
Nota
Just check what the ETHBTC did in last 3 days. If ETHBTC gets above this downtrendline, ETH and altcoins could fly.Nota
BTCUSD defended the white trendline and broke up the blue local downtrendline with good volume keeping price inside the falling wedge as described in the original post. Will the price surge up to the red major downtrenline next days? Alts already doing well today as expected...
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