Bitcoin trading analysis, a break below this trendline is bearish
Back to bitcoin. If bitcoin breaks below the supporting trendline, it is bearish. We should see further breakdown in price. I think the recent altcoin price rise is a vote for the lack of confidence in the future success of bitcoin. Traders and investors still believe in cryptocurrency, but bitcoin might not be the flagship of crypto in the future. It is this that investors/traders start to diversify into anything else. I heard other garbage tiered coins start going up too. I find this interesting because stock market has similar occurrence of such a scenario during major bull markets as well. If there is interest, I'll go into an example when I get off of work.