We are seeing the anticipated price action play out where even healthy BTC consolidation is causing significant bear breaks in alt coins due to the unfavorable correlation.
ETH has lost the daily higher low pattern and has now taken out the previous two supports.
This increases the odds that it is a weekly bear flag a good deal and if BTC loses the daily higher low pattern and starts weekly consolidation, it is only going to get more magnified on the likes of ETH in my opinion.
It will take ETHBTC at extreme oversold levels for me to be interested in ETH again, but BTC has the spotlight until some ETF decisions.
Bears are looking to enter short on weak bounces that cool off RSI levels.
ETH has lost the daily higher low pattern and has now taken out the previous two supports.
This increases the odds that it is a weekly bear flag a good deal and if BTC loses the daily higher low pattern and starts weekly consolidation, it is only going to get more magnified on the likes of ETH in my opinion.
It will take ETHBTC at extreme oversold levels for me to be interested in ETH again, but BTC has the spotlight until some ETF decisions.
Bears are looking to enter short on weak bounces that cool off RSI levels.
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