People excited about Altcoin season are likely to get rekted

9 Jan 2020

I have seen a lot of people drawing bullish lines on the Altcoin charts lately. It is true that Altcoin season has happened around February/March in previous years, but that was the past. What you can actually trade is not in the past. BTC.D has been trading in an ascending triangle for months and currently it is above the 21 day EMA. Compare that with the ETH.D chart which has been doing the opposite for months (purple line). Hope will not change what is happening. When Bitcoin breaks out of the ascending triangle, ETH is likely to go back down to double digits. HODLing on the way down is a bad idea.