If you look at BTCUSDT, you will see the chart start climbing from 02-Jan, same time as your chart above. Since BTC price of HOT is fairly stable, naturally HOTUSDT would also rise as a reflection. Could the rising wedge above actually be a distorted reflection of this rise, since HOT itself ranged from .00000008 to .00000010 BTC? So, then you get a rising wedge on HOTUSDT, but not one created by active USDT trades?
gz1968
⋅
@gz1968, To add a little more to this. I would think, that if HOT keeps accumulating from .00000008 to .00000009 BTC, and BTC keeps climbing, the rising wedge would keep trending upwards, more likely as a channel pattern.
theansweris42
⋅
@gz1968, I would agree that BTC and HOT are both tightly coupled right now hence the symmetry. Elliott wave analysis of HOTBTC should reveal whether HOT might be expected to move away from BTC when wave 3 arrives. I'll do another TA of HOTBTC shortly.