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RE: Bitcoin (BTC) Morning Update: Upper Line of Wedge Breached!!!
I think it is just the short time support. I've drawn the support lines as follows. I always look on Bittrex, but included also a Bitstamp chart. Personally I think the bottom is not in yet, because some alt coins need a lower low and would have to stop being in sync with BTC. For example XVG/USDT failed to produce a valid count for an impulse and creeps along the upper support line.
July and Sept corrections has BTC turn up first while Alts were sideways or still putting in newer lows.
Thanks for your reply. I was not aware of that. I did not check out the former corrections yet, but will have a look. For now I only trade alt coins, so this is something to keep in mind.
Btw: Your post on your portfolio made me overthink my strategy. I will try to adapt by diversifying more into main coins, which gives me buying power for BTC or ETH pairs. If BTC drops one more time I'll change now, if not after the first alt impulses.