Does this means the bottom is in for bitcoin?
As you can see usdt/btc is just the upside down chart from bitcoin. If Tether/Bitcoin is going down, bitcoin is going up.
In my previous analyzes from this chart we allready say a big pennant forming with a potential Head & Shoulders inside. It went higher then i tought, but nothing changed for the long term. The H&S is still valid and as you can see we have formed a big bearish rising wedge here. It will probably take some time to go new highs, but this is a really possitive sign for upmovement in the long term.
We have touched the top of the wedge and Stoch rsi and rsi are topping.
The 200 is still giving support here for usdt/bitcoin so it will take some time to break to the bottom.
As you can see a crossover is almost forming, so i assume it will break before this happen, as whales often use this to create fear.
Great time to get yourself out of tether/fiat and move it to bitcoin/altcoins.
In my previous analyzes from this chart we allready say a big pennant forming with a potential Head & Shoulders inside. It went higher then i tought, but nothing changed for the long term. The H&S is still valid and as you can see we have formed a big bearish rising wedge here. It will probably take some time to go new highs, but this is a really possitive sign for upmovement in the long term.
We have touched the top of the wedge and Stoch rsi and rsi are topping.
The 200 is still giving support here for usdt/bitcoin so it will take some time to break to the bottom.
As you can see a crossover is almost forming, so i assume it will break before this happen, as whales often use this to create fear.
Great time to get yourself out of tether/fiat and move it to bitcoin/altcoins.
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Example Idea
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Head and shoulders still valid.
Head and shoulders still valid.