On top of the sideways action, Bitcoin is leaning more towards the bulls... Why?
Multiple of our signals remain , for example, the is above 50 and BTCUSD is trading above EMA10, but the trading is so low that a breakdown is as likely as a breakout. Anything can happen with this low .
We keep the same view as our chart for Bitcoin vs Tether ( BTCUSDT ), you can see it below:
As long as Bitcoin remains within the light blue zone, additional sideways action is expected.
The altcoins continue to grow, hitting higher highs and higher lows... Bitcoin is doing strong consolidation, we remain until the signals turn.
Conditions for change
If Bitcoin moves lower and closes below EMA10 ($9213) or EMA50 ($9107), its potential is activated and we look for the next support.
In the meantime, we are on the bull's side and continue to enjoy the altcoins growth.
What's your take on where Bitcoin is headed?
Share your thoughts with us in the comments section below.
Let's see how it all develops...