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BTCBUSD

Bitcoin locked in falling wedge?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?
BITSTAMP:BTCUSD
by bizmark
6
BTC at Make or Break point! but are we being fooled? There's no doubt that Covid19 was an entry point to institutional money with that miraculous 60% correction within a week. The BTC world has changed. We feel it in the water. We feel it in the earth. We smell it in the air. Much that once was is lost to their Algo & Bots and "Retail" shaking techniques. For these men, above all else, desire power. Controlling the future of currency is power. The whales bought, GBTC and MicroStrategy and their likes bought. Forbes published that 650 U.S. banks will soon be able to offer bitcoin purchases to an estimated 24 million total customers. And guess what - the price is stifled. The last 6 weeks were boring. Everyone and their wives cried out this bull run isn't over yet. The last few days everyone and their wives have started talking about the pending dump. BTC has been tip toeing the Weekly MA50 currently sitting on 31870 (hodling it for dear life this week). Weekly MA100 is 20226 (rings a bell ?). Everyone I am talking to, is looking at any possible graph to settle their perspective. The graph with most dispute is the historic BTC Logarithmic Growth Curves. Yes, plotting peak to peak says this bull run is not over. Early December has been the ATH in 2014 and 2018 so we should have plenty of time to enter a Bear market followed by a colossal rally. Plotting bottom to bottom on the same graph can land you anywhere between 16k - 24k. But what if they were, all of them, deceived, for another man, in the land of Composite, forged another plan? What if the history is forgotten and turned to myth? What if the Composite Man is plotting his bottoms only from the point in which he had entered the field in mid 2020? Side walking for long periods are the precursors of Violent Moves. We are either going to see a fake move up (a trap at ~39K) followed by a brutal move down into a Bear market, which now seems to be, by the way, the common chant only in the last couple of days! {and that is why I am not joining the bull train until I see a daily candle closing over 42k-43k}. But Logically, it makes no sense! That the hoarding Whales, and the Institutions will buy just to see it cut in half. OR We are going to see a fake move down (a trap at the Composite's man Black Line at ~26K - 28K) followed by an insane move up into a colossal mega run that will break all of the previous patterns we know, since the BTC world is changed. One Crypto to rule them all. Where we might be able to stack satoshies at best in the not so far future. One thing is sure, the next few days or weeks are going to be exciting!
by ROI_Crypto
1
SHORTHi guys I think bitcoin is getting rid of this boredom little by little, and my personal opinion is that the price is moving down. I gave you good support, I hope you can use it. Note that do not get excited if the price closes below the triangle line, as it may be fake, check everything and then decide. Rumors of buying Apple will also affect the price, but in my opinion, if it is true and officially announced, it is just a thrill, and then the price will return to its original trend.
Short
by Mohsenzanganeh2021