ETH has consolidated much more significantly than BTC, losing 4 hour EMA 12 support.
The pattern drawn here is a potential bearish reversal Head and Shoulders to be keeping an eye on today.
We will likely need to see BTC break the low of current consolidation to see these supports break and the uptrend lost on the 4 hour.
I am personally staying away from ETH for now as there was the negative article highlighted in the video and the correlation to BTC clearly favors bears the last 2 days.
Always check in on the comparison charts ETHBTC if it is not clear visually to you just looking at the charts.
Until some coins start forming some up trends in their BTC pairings, I personally will stick to BTC.
If I could play it bearish on Coinbase I would short ETH on any BTC weakness.
The pattern drawn here is a potential bearish reversal Head and Shoulders to be keeping an eye on today.
We will likely need to see BTC break the low of current consolidation to see these supports break and the uptrend lost on the 4 hour.
I am personally staying away from ETH for now as there was the negative article highlighted in the video and the correlation to BTC clearly favors bears the last 2 days.
Always check in on the comparison charts ETHBTC if it is not clear visually to you just looking at the charts.
Until some coins start forming some up trends in their BTC pairings, I personally will stick to BTC.
If I could play it bearish on Coinbase I would short ETH on any BTC weakness.
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