BTC was quite tricky in past month, we were all expecting to bounce from 53k and finish 5'th wave... but BTC gave us a middle finger and 69k was actually 5'th wave :)
Currently we are forming broadening descending wedge pattern
which typically breaks to the up side. The problem is that altoins are not flying on this level what points to further decline and probably shift in cycle ( switch to purple ).
There are 2 options:
1. bottom formed in the beginning of DEC will hold and will will consolidate with orange track.
2. we will break current bottom and form another in the beginning of JAN.
In both cases altcoins should fly.
Regards.
Currently we are forming broadening descending wedge pattern
which typically breaks to the up side. The problem is that altoins are not flying on this level what points to further decline and probably shift in cycle ( switch to purple ).
There are 2 options:
1. bottom formed in the beginning of DEC will hold and will will consolidate with orange track.
2. we will break current bottom and form another in the beginning of JAN.
In both cases altcoins should fly.
Regards.