ETH pulled back hard with BTC last night, but has way more wiggle room before getting to the low of the daily dump.
The bulls are forming an 4 hour higher low and remaining in control of the bounce.
From this position, due to favorable correlation, bTC could drop to a lower low and it would likely take a break of $8,000 for the ETH price to get back to the lows of the dump in the $640s.
I will personally be looking to play ETH this week as the gains continue to out pace BTC.
Bulls will need hourly higher lows and higher highs to continue on this bounce recovery, but cautious if BTC loses 15 min higher lows for the potential for a bear flag and continuation.
Consensus 2018 starts today but I do not expect any big market spikes without some unknown news.
The bulls are forming an 4 hour higher low and remaining in control of the bounce.
From this position, due to favorable correlation, bTC could drop to a lower low and it would likely take a break of $8,000 for the ETH price to get back to the lows of the dump in the $640s.
I will personally be looking to play ETH this week as the gains continue to out pace BTC.
Bulls will need hourly higher lows and higher highs to continue on this bounce recovery, but cautious if BTC loses 15 min higher lows for the potential for a bear flag and continuation.
Consensus 2018 starts today but I do not expect any big market spikes without some unknown news.
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