Bitcoin : Rising Wedge with a bearish target
Diupdate
The internet works very badly where I am (holidays), so exceptionally my description is succinct!
Everything is on the chart with the bearish breakout of a rising wedge spotted the day before ;)
Everything is on the chart with the bearish breakout of a rising wedge spotted the day before ;)
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In my blue circle, a bullish signal to monitor : Komentar
In order to give yourself a simple technical framework according to the outcome of the day:- If the price re-enters my bullish channel in white = confirmed Bullish signal
- If the price falls below the bearish trend line in red = Bearish signal confirmed
- If the price asserts itself horizontally between the support in white and the resistance in red (rebound on the latter in progress to be watched because if it succeeds = becomes support) = signal of Range... which can benefit briefly to the Altcoins
In the latter case, a small round trip could be tempted on the Altcoins: but choose those with the most solid fundamentals and quickly take your earnings by returning to Bitcoin.
For me the Altcoins are interesting:
- the best SoV (Store of Value) with the properties of Bitcoin (max supply, PoW or Hybrid PoW + PoS): Decred (DCR) and Litecoin (LTC)
- the best SoV anonymous: Zcoin (ZCS) and Monero (XMR)
- the useful tokens of good exchanges: for some time for those who follow me, you know that I advise Kucoin-Shares (KCS) of the Japanese platform Kucoin.
Always be wary of utility-tokens, especially ETH based, even if some technologies seem attractive on paper: at the moment for example ChainLink (LINK) "makes you want", but he benefited two days ago from the announcement of its listing on Coinbase Pro... so beware of "buy the rumor, sell the news", and all this hype on use cases still to prove = pure speculation.
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W-Rebound on new support ? :)Komentar
Beware for supporters of a small "alt season" (which can only work if Bitcoin's price is horizontal with little volatility):At the end of the isosceles triangle that I highlight below, the volatility will quickly increase imo!
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I find on reflection a lack of intermediate peak-bottom on my triangleAnd if we had a succession of 2 isosceles triangles that would actually lead us to a range without volatility on Bitcoin (Release of the 1st triangle without volatility!), Going in the direction of a small Alt Season to seize?
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The Altcoins, even with the strongest fundamentals, pay dearly for every Bitcoin dump.Those who stay on the Altcoins are really suicidal gamblers don't you think ? o_O
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50% Take Profit on my previous short target (in french only, sorry) :
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