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JamesRennie

Bitcoin wedge = Alt coin rally

Bitcoin (BITSTAMP:BTCUSD)  
JamesRennie  
BITSTAMP:BTCUSD   Bitcoin
Trend Lines Support and Resistance Multiple Time Frame Analysis BTCUSD
4
1
trendline supportandresistance mtfa btcusd
snapshot

On the hourly chart there is a wedge forming it could break either way but I think down is more likely.

snapshot

If it breaks down we see Bitcoin go sideways while alt coins rally. Then I expect Bitcoin to break down to 21 weekly EMA. Before we see Bitcoin's next rally.
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