ETH continues to be a lead bear in terms of having the bears in control of most time frames.
4 hour this is very clear with lower highs consistently, with bounces that do not even reach EMA resistance.
Only hope for the bulls in the short term is a higher low and break of $424.61.
We will see some shorts cover when this trend breaks, otherwise there is no reason for them to cover.
After $400 the next support is $360. Weekly bear flag not confirmed yet but very close.
Bulls remain patient and lock in short term profit while they have it.
4 hour this is very clear with lower highs consistently, with bounces that do not even reach EMA resistance.
Only hope for the bulls in the short term is a higher low and break of $424.61.
We will see some shorts cover when this trend breaks, otherwise there is no reason for them to cover.
After $400 the next support is $360. Weekly bear flag not confirmed yet but very close.
Bulls remain patient and lock in short term profit while they have it.
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