Ethereum gains lack commitment
There are some good fundamental reasons to be interested in ETH against BTC in a balanced crypto portfolio and I am also interested in a place to go long.
But I got stopped out after a fakeout around 0.02045. It has since risen but is forming a wedgey structure with no significant increase in volume which is a bit unconvincing from the bulls. We also have some bearish RSI divergence on small-mid timeframes.
Sure we could break up from here but that would not make it a good trade. A retrace on the balance of probabilities seems more likely. I will be looking for a better entry.
But I got stopped out after a fakeout around 0.02045. It has since risen but is forming a wedgey structure with no significant increase in volume which is a bit unconvincing from the bulls. We also have some bearish RSI divergence on small-mid timeframes.
Sure we could break up from here but that would not make it a good trade. A retrace on the balance of probabilities seems more likely. I will be looking for a better entry.
Penafian
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