You can see in both charts BTC/USD and Market Cap excluded BTC (in summary a lot of ETH and RIPPLE) the formation during the last bear market of two descending triangles
The basis of the triangle for BTC was for longtime supportive and 9 months after the first impact, finally arrived the strong breakout that brought BTC to 3k.
The basis of this triangle was the level of the second breakout for bitcoin since recovery began.
The actual breakout level ( or resistance) for bitcoin is a little bit more tricky to identify, but I think we are full inside.
FIRST: Reconsidering the fractal idea you can see that BTC is approaching the upper sideway resistance of the last selling phase
SECOND: TOTAL 2 is also trying to break above the basis of the triangular formation (Second breakout). Other small altcoins are confirming the break out level.
ADA is playing with 1 cts since 2 months
NEO is also trying to penetrate the 14$ level
for both coins a break above this level could be followed by a strong green candle.
So another time we are in a black or white situation. Break above = strong green candle. No break = strong red candle.
BIO
The basis of the triangle for BTC was for longtime supportive and 9 months after the first impact, finally arrived the strong breakout that brought BTC to 3k.
The basis of this triangle was the level of the second breakout for bitcoin since recovery began.
The actual breakout level ( or resistance) for bitcoin is a little bit more tricky to identify, but I think we are full inside.
FIRST: Reconsidering the fractal idea you can see that BTC is approaching the upper sideway resistance of the last selling phase
SECOND: TOTAL 2 is also trying to break above the basis of the triangular formation (Second breakout). Other small altcoins are confirming the break out level.
ADA is playing with 1 cts since 2 months
NEO is also trying to penetrate the 14$ level
for both coins a break above this level could be followed by a strong green candle.
So another time we are in a black or white situation. Break above = strong green candle. No break = strong red candle.
BIO
Comment:
It have to stop here. If it break this level it goes directly to the moin
Is going vertical