Bitcoin continues to move sideways on the short term, but personally, I still believe that we may have a significant movement soon as the rate cannot move like this forever. It is narrowing on the daily chart, and it is still located above the 6425 major static support.

It seems like that the aggressive upside movement from October 15 it was only a manipulation and the buyers weren’t so strong to keep the rate above the 7000 psychological level. I’ve told you in the previous weeks that the Bitcoin could drop sharply if the rate will fail to move higher very quickly. Maybe the false breakout above the upside 50% Fibonacci line of the descending pitchfork and above the WL1 it will send the rate towards the 6000 psychological level again. It remains to see what will really happen, but right now you should stay away and wait for a fresh trading signal.

I want to remind you that a valid breakdown below the 6000 psychological level and below the median line (ml) of the descending pitchfork it will signal a larger drop. An upside movement could be announced by a valid breakout above the 50% line, above the 7788 former high and maybe above the upper median line (uml) of the descending pitchfork.

The Ethereum changed little in the last weeks and continues to stay much below the downside 50% Fibonacci line of the descending pitchfork and below the broken WL2. It is premature to talk about a reversal. Only a drop towards the lower median line (lml) of the descending pitchfork followed by a false breakdown or a failure to reach this dynamic support will really signal a larger bullish momentum.

Ripple moves sideways along the downside 50% line of the descending pitchfork and maybe is waiting for a bullish spark. It has retested the downtrend line, but it has failed to approach and reach the median line (ml) again. A breakout above the median line (ml) it could signal a further increase.