After making a weekly close that poses the question of whether bitcoin has now made its top for now, a bounce is probably still on the cards. That being said, ethereum does look a better bet.
An ugly wick
Source: Trading View
After making a new local high of $49,000 last week, the bitcoin price descended around 15%, wiping off a huge $7,500 from that high. The rather long wick that the price left behind looks quite ugly, and is another sign that $BTC could have left its high behind it, and is ready to make a descent.
Bitcoin still respecting trend
Source: Trading View
Zooming in on $BTC on the shorter daily time frame, it can be seen that the price did dip out of the upward sloping channel, but looks to be climbing back in currently. In addition, $BTC has respected a trend line that goes back to mid-August. These factors could mean that $BTC will go up first.
Ethereum a better bet?
Source: Trading View
With this in mind, even if $BTC does bounce from here, ethereum does look a better b
We współpracy z: https://cryptodaily.co.uk/2024/01/bitcoin-bounce-incoming-but-ethereum-better
