Was messin around and thought I'd throw this up for comparison since its fairly similar so far. The market seems to have a few more eyeballs on it these days along with the looming regulatory concerns so maybe some of the wild west magic is wearing off but that 200ema looks like it held as support all the way to February 2018
As long as this daily closes above $10,150 or so we're still hangin in there but its getting close. If it holds then still probably a few weeks of action packed sideways, but on the upside dominance looks to be finally breaking down and I'm crossin my fingers for altcoins to pick up a little. Gonna stay away from predicting the possible down side if this thing...
I've pulled my channel bottom down parallel to last years lows and its barely hangin in but damn the btc pair looks terrible steady bleeding satoshis for months. It does have a history of bouncing pretty hard and btc dominance along with btcusd look toppy to me right now so I'm just crossing my fingers at this point
If this thing breaks to the upside with some balls we might just break the whole downtrend channel from $13900s. I'm still guessing we head back down a little but it definitely looks like it could break out with just a little move up and make another big run up. Either way it looks like we should find out soon
Starting to think I may have bet on the wrong horse with eth in the short term but I'm still not sure how it's gonna work after September with the ip blocking on binance. They've been even more of the volume in the market lately with the addition of margin trading and when us muricans get the boot the thinner order books are probably gonna be ripe for shitcoin...
My best guess is we ride this down a bit while hopefully giving alts a chance to catch up cause dominance is crazy. Then come to a good point to break that down channel and run for new yearly highs, but at this point who really knows.
Given up a lot more ground than I thought they would since $9400 without much of a fight. There have to be some battle lines set up here somewhere right? Kinda want to see some support set up at this point cause I don't trust anything that looks too easy anymore.