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dudebruhwhoa
Aug 6, 2021 4:40 PM

HBAR / BTC - BTC.D in Rising Wedge, Alts in Falling Wedge Long

Hedera Hashgraph / BitcoinBinance

Description

At the moment, it looks like Bitcoin wants to rise against alts, and it may do so in the short term, but mid to long-term a rising wedge coming out of a downtrend is a bearish continuation pattern for bitcoin dominance, while a falling wedge coming out of a downtrend is a reversal pattern.

Hence, I think there's a good chance alts like HBAR and others are going to see some pretty nice gains against bitcoin. Preface this with the fact that patterns like this aren't always successful, especially in crypto, but they are "reliable" most of the time. Keep an eye on both and let's see if it does what it is supposed to do.

Related ideas linked below

Comment

HBAR has broken up out of its falling wedge now:



BTC.D has broken down out of its rising wedge as well (daily wedge not shown here has an even stronger break-down)

Comments
jazerbay
Good job!

I love this method ✌🌞
dudebruhwhoa
@jazerbay, thanks jb, we'll see what happens for reals soon enough
dudebruhwhoa
Please leave any comments or ideas you have about HBAR / BTC or Bitcoin Dominance, and thanks for stopping by
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