BTCUSD nears support. Bounce once again or serious correction?
Updated
BTC has been trading in a falling wedge since around January 17th, while everyone waits for the big correction to mythically low prices or for confirmation that the Bulls are back. The last 3 times BTC has approached the wedge support, RSI is where it's at now and we saw a nice bounce. For those trading other crypros, you should watch BTC prices trading in this wedge, as the whole market reacts to it's movements.
Note
BTC has broken support on the wedge formation I drew from January 17th. More articles are appearing about the situation with Tether USDT. If the allegations are true, we could see a major correction. I've moved into cash and waiting to see what's going to happen. ETH is still within it's wedge but where BTC goes, ETH follows. Will investors jump ship on BTC and get behind ETH causing the great flippening?
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