See the youtube video from last night for clear detailed analysis on what is currently playing out.
We hit a double top and broke the higher low pattern, leading to a dump and a consolidation day on the daily chart.
We are looking for a higher low on the daily and it will be marked by the hourly forming higher lows and higher highs again.
This correlation can hurt ETH but the bounces are much stronger as the bulls are choosing the name closer to blue sky breakout.
If BTC forms a higher low on the daily and bulls begin to bounce, we will see a bullish MACD cross on the daily and an attempt to change the daily trend back to the bulls.
Patient as this occurring on the daily would give a comfortable swing entry for the momentum shift.
For now attention is still on ETH and XRP as the gains are not being matched elsewhere.
We hit a double top and broke the higher low pattern, leading to a dump and a consolidation day on the daily chart.
We are looking for a higher low on the daily and it will be marked by the hourly forming higher lows and higher highs again.
This correlation can hurt ETH but the bounces are much stronger as the bulls are choosing the name closer to blue sky breakout.
If BTC forms a higher low on the daily and bulls begin to bounce, we will see a bullish MACD cross on the daily and an attempt to change the daily trend back to the bulls.
Patient as this occurring on the daily would give a comfortable swing entry for the momentum shift.
For now attention is still on ETH and XRP as the gains are not being matched elsewhere.
Checkout our full trading resources online www.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