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I guess the title kind of says it all.
Looking at the chart ETH has pretty much broke any kind of support there was.
I really believe the altcoins have had their last pump and are now trending to 0 against BTC
Looks like this was a miniature 2017 run giving us a quasi target around 7330
We are back in the channel, we really don't want to end the day still in this channel. Using the tone system the daily chart has given us a bearish entry to a possible 9 count.
This is a critical point, i see a potential breakout coming. Ideally we want to break this trend line and complete the cup and handle formation
we need a 9 to show that we have exhausted the downward momentum
otherwise i don't think the short term bouns will hold
normaly i'd say never short BTC But i'm short here for now no support i'd like to see 8000 then we can go higher