BTCUSD Touched resistance line of triangle and did not break this line. Now we going to the support line of triangle. The triangle is not a definite figure and the break out can be in either direction up or down. In candle analysis I see Bearish Engulfing . Stochastic RSI - overbought
Some reasoning
This upward movement that occurred over the last month was associated with HYPE with ETF . Consideration moved to September. While BTC did move up, all the altcoins are relatively bitcoin fall. The Alts will continue to update the lows, relatively BTC but relatively dollar, they did not drop heavily in the price. Why do I think that bitcoin will go even lower? At the market new big players must come in. They play in long, and for them is the most important thing is entry point to the market. They will buy any crypto for dollars. To make even more lower price of alts in the dollar, bitcoin should fall further for purchase of alts at the bottom. On this I think we are still waiting for the continuation of this downward movement.
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Intresiting situation we are touched reisistance line
Dont you think that the main trendline changed its steepness since 08/2015? To be more specific - I think the steepness of the trendline changed around march 2017. In my opinion we will touch the new trendline and bounce back from it - what are your thoughts on that: