Straight forward idea. The green line represents this cycle's sellers. The blue line has been this cycle's buyers. The red line has formed across multiple cycles and has yet to break. If the blue line breaks, the cycle is likely over. The white line is just an approximate mid-point between the green and blue. Also, seeing RSI bearish divergences is certainly less...
A rising wedge, which is oftentimes coupled with bearish divergence is occurring on the weekly Bitcoin chart. Typically after the breakdown of the wedge, there will be a lower high while also falling below key moving averages, which has appeared most recently. It is very well possible for this lower high to move a bit higher to 29K-30k or even form a double top....
The ETH/BTC chart is showing a falling wedge into a support level wrapped inside an inverted head and shoulders pattern. Additionally, from a seasonality perspective, the ETH/BTC bottom was in October and September the past two cycles. Furthermore, the Proto-Danksharding upgrade is expected to arrive later this year which is likely to give the price a boost...
