Overview of courses from Bitcoin and Altcoin like Ripple, Litecoin and Ethereum
You can literally hear it bubbling at the Ethereum course. Something is boiling under the surface and as I will show in this article, there is convincing evidence that the price per ETH compared to the Bitcoin Lifestyle course could break out very soon.
The last few days were undoubtedly of a positive nature for investors in the crypto-currencies. All in front the Bitcoin course with a rise of 15,4% is one of the better Performen under the Top crypto currencies. The Ethereum course had the Nachsehen in the comparison to it with a price increase of 7,4% in the last 7 days opposite Bitcoin. Surely 7.4% within one week are everything else as bad, but it is straight times scarcely half of what Bitcoin reached. But the Nachsehen for Ethereum could have already very soon an end.
In the Telegram Channel of Bitcoin-Bude.de recently a Chart was posted, which points out that the Ethereum course could have soon the nose in front in relation to the Bitcoin course.
The ETH/BTC chart shows what is commonly known as the falling wedge formation. What exactly this formation says about the Ethereum price and its possible performance in the coming days, we will now take a closer look at.
Ethereum price versus Bitcoin in the falling wedge formation
A falling wedge formation is rare, but easily recognizable. It has few and at the same time very clear characteristics. These include above all two downward sloping trend lines. Both of these trendlines must intersect at the top of the formation. This means that although both trend lines are inclined downwards, the angle of fall of the upper line is steeper. As we can see, the Ethereum course fulfills this 1st characteristic.
There should be at least 5 touches on the trend lines in total, so that an actual wedge formation can be assumed. Otherwise, there is reason for skepticism. But as we can see, the Ethereum price against Bitcoin also fulfills this characteristic with flying colors.
Another feature is that this formation lasts for at least 3 weeks. Typically, the wedge formation moves in a time window of 3 weeks to 4 months. The Ethereum price has been moving in its formation for almost 3 months. It is also close to the top of the formation, suggesting an early breakout (if the pattern holds).
Finally, the volume trend gives us the last feature of the wedge formation, although this is not a must. The volume usually decreases steadily within the formation until the breakout. This characteristic is also fulfilled by the Ethereum course towards Bitcoin.