ALTs and Bitcoin monitoring

320 4
In my opinion, Alt Bull depend fully on Ethetium. Though, if bitcoin goes bearish again, then we will see no Alt bull at all. So I will continuously be monitoring both.

On bitcoin , we can observe two chart patterns, Head and Shoulder, and Inverted Wedge .

1. Right shoulder was uncompleted and we can see neckline doesn't hold. The short-term downtrend was stopped by 0.618 Fib.Ext and one of the internal trendlines .
2. Inverted broadening wedge which is bullish formation. I expect the price to reach the highest high of the wedge over the next few days with plenty of fake bounces.

A Potential bear flag is forming. On bottoms, volume profile is not fully bullish , so if the price will reach 0.382 Fib, I won't be surprised.

Will monitor both and update later.

Happy trading!


Broke support. My next target 20dma and 0.5Fib
評論: Falling wedge
Im watching this very closely too; believe ETH & Alts are going to run adversely to BTC in march, Sideways BTC. whats your opinion on that
@Basil13, I'm the break out trader. I do not predict stuff, only tell what has already happened)) Anything can happen and I won't be surprised.
do you feel it is best to shift money into BTC, as i saw via coinmarket cap the fact all alt money is shifting into Btc my self?
TonyCryptano perfecto888
@perfecto888, Hello! Do you mean, hold bitcoin instead of altcoins?
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