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Since our last Bitcoin update, price has risen a bit; enough to get me wondering whether or not it’s time to re-assess my earlier suspicion that another down movement was due. In fact, I have seen evidence to suggest that the recent panic selling might have been the low I was expecting.
To better get a feel for this question, I looked at the ethxbt chart for any clues it might offer:
Here you can see that the bottom of the 5th square has stopped 5 declines in the past few weeks.
Note that the swing high at .020 (blue arrow) was at the end of the 2nd square in time. This is common behavior, which is not to say ‘mandatory’ behavior.
However the most recent candle has seen a noticeable rise, and the chart is now at the end of the 4th square in time. It is reasonable to suspect that a swing low might be in, for now.
What does this imply? It implies that there is a high probability that for a short while at least, Ethereum will out-perform Bitcoin. This is still unconfirmed,
Read more ... source: TheBitcoinNews
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