ETH is currently holding up a bit better than BTC as the daily higher low pattern is still intact, where it has already been lost for BTC.
We are clearly seeing consolidation and looking for a higher low on the daily for BTC,
ETH has not given such clear signals that we are done this bullish move yet.
Two scenarios are BTC forms a daily bull flag and looks for continuation in which case ETH would benefit without the need for much daily consolidation.
If BTC pulls back more significantly and looks like a few days of consolidation are coming, we will look for ETH to pull back to try and form a higher low in the $570-580s. Anymore pullback than $570 and we will look for a daily equilibrium before a break.
Best case scenario for all bulls is confirming the weekly reversal candle... which would mean brief consolidation to start the week and bullish continuation the 2nd half.
We are clearly seeing consolidation and looking for a higher low on the daily for BTC,
ETH has not given such clear signals that we are done this bullish move yet.
Two scenarios are BTC forms a daily bull flag and looks for continuation in which case ETH would benefit without the need for much daily consolidation.
If BTC pulls back more significantly and looks like a few days of consolidation are coming, we will look for ETH to pull back to try and form a higher low in the $570-580s. Anymore pullback than $570 and we will look for a daily equilibrium before a break.
Best case scenario for all bulls is confirming the weekly reversal candle... which would mean brief consolidation to start the week and bullish continuation the 2nd half.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Checkout our full trading resources online chartguys.com
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.