TheChartGuys

ETH Still Weak on the Daily with RSI Crushed

COINBASE:ETHUSD   Ethereum / U.S. Dollar
Short squeeze yesterday on GDAX where we saw a race to cover,
and market orders shooting the price up to the $580s, and seeing 8%+ in seconds and back.
After all that, we are still on the 8th red day in a row, and very likely forming a daily inside bar today.
Still watching due to the beat up daily RSI levels, and potential for more significant upside as ETHBTC is beat up as well.
We will need a 4 hour higher low and higher high to break the daily inside bar bullish , if that is indeed how it forms in 12 hours.
Still correlating strong to BTC , and always watching for clues and comparison. Still hard to be confident holding anything bullish for a couple days.
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