ETH has been very tight for the last 5 days staying within the highlighted range as the volume continues to drop off as well.
We are looking for a clear break and volume spike either today or tomorrow to see a break of this range.
The bears still have full control on the daily, and will have to get over EMA resistance to see any kind of follow through on a bull break.
BTC would have to see a bull move to $7k in order for ETH to break bullish unless we see a complete shift in the correlation and a big bull break for ETHBTC.
The bears are still comfortable and could look to make an entry on the break of this tightening range for any new positions.
Patiently waiting for volume to tell us the break is happening.
We are looking for a clear break and volume spike either today or tomorrow to see a break of this range.
The bears still have full control on the daily, and will have to get over EMA resistance to see any kind of follow through on a bull break.
BTC would have to see a bull move to $7k in order for ETH to break bullish unless we see a complete shift in the correlation and a big bull break for ETHBTC.
The bears are still comfortable and could look to make an entry on the break of this tightening range for any new positions.
Patiently waiting for volume to tell us the break is happening.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Checkout our full trading resources online 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
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.