ETH completes the sell off - Halving in BTC will get us ATH
So the Ethereum Futures have finally filled the gap and IMHO we have now completed the bearish correction in the major crypto futures. I am now looking for both BTC and ETH to make higher highs and higher lows on the intraday charts.
With the BTC chart, the volume and triangle/pennant pattern aligned with the correcting over time theory, and the ETH has done something similar. The difference is the weak holders of ETH just got shaken out as they thought today's price action was the start of a sell-off.
For the bears, I would say, we would need to see a decent close at the lows of today's price action and for the volume to be high. From there you would want to see a retest of a high volume area on the profiles and then a decent sell off. I doubt we get that though.
For the bulls, you want to see the current price action as a sweep of the stops below the lows. The filling of the gap means that the algo's have done their job and we need to see confirmation of this with rising volume, higher swing highs and higher swing lows.
If the bulls win, we just buy the dips.
With the BTC chart, the volume and triangle/pennant pattern aligned with the correcting over time theory, and the ETH has done something similar. The difference is the weak holders of ETH just got shaken out as they thought today's price action was the start of a sell-off.
For the bears, I would say, we would need to see a decent close at the lows of today's price action and for the volume to be high. From there you would want to see a retest of a high volume area on the profiles and then a decent sell off. I doubt we get that though.
For the bulls, you want to see the current price action as a sweep of the stops below the lows. The filling of the gap means that the algo's have done their job and we need to see confirmation of this with rising volume, higher swing highs and higher swing lows.
If the bulls win, we just buy the dips.