We dropped to a lower low on the 4 hour overnight, but the bulls bought the dip to maintain 4 hour EMA support.
We must see continuation to break the high of the bounce at this point.
Possible we just see continued sideways trading within this 4 hour channel today.
ETH weaker than BTC and LTC stronger. Keep an eye on LTC and other alts as potential lead indicators.
The bull moves are still not ideal for bulls. We want sustained uptrends and continuation. These little 5-20 min bull moves followed by lots of consolidation is not putting pressure on the shorts to cover.
Bottom line is bulls still have control but that have not been very impressive at this point.
We must see continuation to break the high of the bounce at this point.
Possible we just see continued sideways trading within this 4 hour channel today.
ETH weaker than BTC and LTC stronger. Keep an eye on LTC and other alts as potential lead indicators.
The bull moves are still not ideal for bulls. We want sustained uptrends and continuation. These little 5-20 min bull moves followed by lots of consolidation is not putting pressure on the shorts to cover.
Bottom line is bulls still have control but that have not been very impressive at this point.
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