ETH continues with 4 hour lower highs and lower lows while BTC holds up strong.
This is causing ETHBTC to get extremely oversold, and for the daily and 4 hour charts to significantly lose favor for bulls.
It is becoming more and more clear BTC has the attention of the market right now and ETH is a prime example.
I personally would only be looking to play ETH bearish and stick to BTC for bull plays.
We will watch for a change in the 4 hour trend to try and make it back towards $500, but bull volume is non existent.
This is an example where logic and some brainstorming led to a correct assessment of how the market could behave in light of the ETF date.
This is causing ETHBTC to get extremely oversold, and for the daily and 4 hour charts to significantly lose favor for bulls.
It is becoming more and more clear BTC has the attention of the market right now and ETH is a prime example.
I personally would only be looking to play ETH bearish and stick to BTC for bull plays.
We will watch for a change in the 4 hour trend to try and make it back towards $500, but bull volume is non existent.
This is an example where logic and some brainstorming led to a correct assessment of how the market could behave in light of the ETF date.
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