After continued laggard action and weakness vs. BTC on the move up, we are seeing the ETHBTC chart get very tight in a bounce attempt.
We may see a bull break there which just means we are seeing ETH pullback less than BTC does during healthy consolidation.
Often times people forget that both coins can be going down but the ETHBTC pairing chart can make bull moves if ETH declines slower.
We are still in a tightening daily range with a weekly chart that is ugly compared to what BTC has done the last 2 weeks.
Without a fundamental catalyst I expect BTC to steal the attention of traders like myself as long as this ETF decision has yet to be made.
I will need to see the ETHBTC daily chart change the trend to change my game plan.
We may see a bull break there which just means we are seeing ETH pullback less than BTC does during healthy consolidation.
Often times people forget that both coins can be going down but the ETHBTC pairing chart can make bull moves if ETH declines slower.
We are still in a tightening daily range with a weekly chart that is ugly compared to what BTC has done the last 2 weeks.
Without a fundamental catalyst I expect BTC to steal the attention of traders like myself as long as this ETF decision has yet to be made.
I will need to see the ETHBTC daily chart change the trend to change my game plan.
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