Solid move up this morning in response to the BTC breakout, but still lagging behind big time.
We are looking at a BTC dominated market and narrative as long as the ETF topic is on the table.
Bulls must keep up higher lows and higher highs on the 4 hour chart to continue to head back towards recent highs.
ETHBTC will have to change the trend on the daily time frame for these bounces to hold any weight,
otherwise we will just see these moves given back for the inevitable BTC consolidation.
I do not expect this alt/ BTC relationship to change any time soon as we have multiple weeks before we get more ETF information, either a decision or a delay.
We are looking at a BTC dominated market and narrative as long as the ETF topic is on the table.
Bulls must keep up higher lows and higher highs on the 4 hour chart to continue to head back towards recent highs.
ETHBTC will have to change the trend on the daily time frame for these bounces to hold any weight,
otherwise we will just see these moves given back for the inevitable BTC consolidation.
I do not expect this alt/ BTC relationship to change any time soon as we have multiple weeks before we get more ETF information, either a decision or a delay.
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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.