The #BTC in the last 7 days has entered a phase of price lateralization, this stalemate can be both positive and negative. Meanwhile, #ALTCOIN as #ONT and #EOS are taking advantage of it.
Image 1: TradingView – BTC / EUR – 2018-05-01 – Timeframe 1 day – Lateralization of the price
What immediately jumps to the eye is that in previous points of local maximum the price has changed direction (going down) within a maximum of 4 days. Currently, however, the lateralization phase lasts for 7 days, which suggests a phase of consolidation of the price rather than preparation for a descent.
Another positive note can be found in image 2 :
Image 2: TradingView – BTC / EUR – 2018-05-01 – Timeframe 1 day – bullish triangle
In this image we have in fact identified the triangle pattern which, in this conformation, indicates an upward price break. We must be careful that, before the break up, the firuga could first understand a further fall.
Ultimately Bitcoin could suffer a decline in the short term but a bullish trend is expected in the short medium term. We must therefore be careful and monitor prices.
Meanwhile, some altcoins, such as Ontology and EOS, are achieving very positive results. We must be careful, however, that a recovery of Bitcoin could shift altcoin capital.