There is very little bull volume for BTC and ETH this morning as we see a bounce that is likely to set 4 hour lower highs for both names.
Watching for the potential 4 hour equilibrium setup today that may result in a daily inside bar.
Bears are waiting for an entry on the lower high and to use the previous high in the $305s as a stop level.
I personally am back to all cash and patiently waiting for a more clear setup in the future.
I am still interested in the oversold bounce for ETH on the daily, but the bull break for BTC yesterday did not see the follow through nor the healthy consolidation I was looking for to remain comfortable.
Looking like we may be setting up for some action heading into the weekend tomorrow.
Watching for the potential 4 hour equilibrium setup today that may result in a daily inside bar.
Bears are waiting for an entry on the lower high and to use the previous high in the $305s as a stop level.
I personally am back to all cash and patiently waiting for a more clear setup in the future.
I am still interested in the oversold bounce for ETH on the daily, but the bull break for BTC yesterday did not see the follow through nor the healthy consolidation I was looking for to remain comfortable.
Looking like we may be setting up for some action heading into the weekend tomorrow.
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