ETH bulls are following the BTC lead with a bounce and attempt at a daily higher low to stay in a tightening range.
The 4 hour chart needs to give us a clear higher low and higher high to be confident the daily support has been set.
A higher low and higher high will also get us over EMA resistance on the 4 hour currently stiffing the bounce.
It is important for the bulls to follow through today and prove the shift in momentum, otherwise it is just another lower high on the 4 hour.
Bulls only short term hope for the rest of the month is for BTC to follow through with a $6,800 break to confirm the inverse head and shoulders possibility.
Both bulls and bears can be patient while the daily charts tighten.
The 4 hour chart needs to give us a clear higher low and higher high to be confident the daily support has been set.
A higher low and higher high will also get us over EMA resistance on the 4 hour currently stiffing the bounce.
It is important for the bulls to follow through today and prove the shift in momentum, otherwise it is just another lower high on the 4 hour.
Bulls only short term hope for the rest of the month is for BTC to follow through with a $6,800 break to confirm the inverse head and shoulders possibility.
Both bulls and bears can be patient while the daily charts tighten.
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