It should break up close to this point but if it retests the wedge's resistance and bounces then it likely wants to go to make support at 0.011 approx.
I think you might be up to something.
It's possible BTC retraces slightly, propping eth up.
The 'trendline breakout' crowd is permanently getting excited about the 'huge triangle' breakout, on any trendline that breaks.
So far, all signals of this mainstream kind have been fake. I don't expect this one to be real either.
Let's see how it plays out. I'm reducing my spot longs in btc here, since they are in profit, partially, and buying some eth which is currently undervalued.
(I keep a % allocation of eth and btc in my crypto portfolio).
Ingemkts
⋅
Hi, it makes sense, nevertheless it is hardly to think BTC isn't going to break that triangle up as there have been several accumulations into each impulsive (bullish) shake. Regarding ETH, as you say, maybe it performs tied to BTC but I have noticed that when ETH is going up BTC just stops and starts to range but it doesn't drop hardly. Anyway I am trading in spot, so I would sell in case that breakout is denied in BTC. In the other hand I think ETH could break that descending wedge up to 23.6% fib and bounce. Let's wait for this outcome.