ETH Channel on the Hourly to Watch
ETH has been holding up much better than BTC consistently, but is still tied to the same trading action.
There was a point last night where I said if BTC chart looked like ETH I would be much more bullish the space right now.
The daily chart is looking to form a higher low, and the 4 hour chart was the first to hit a higher lo and higher high.
ETHBTC chart is still in a very strong uptrend on the daily, something to keep an eye on.
I personally am not trading in this zone with the choppy action controlled by 1 min candles.
I am waiting for a more clear setup and I will choose ETH for any oversold bounces if we see BTC break 8k.
Establish a game plan for both scenarios, bull break and bear break.
There was a point last night where I said if BTC chart looked like ETH I would be much more bullish the space right now.
The daily chart is looking to form a higher low, and the 4 hour chart was the first to hit a higher lo and higher high.
ETHBTC chart is still in a very strong uptrend on the daily, something to keep an eye on.
I personally am not trading in this zone with the choppy action controlled by 1 min candles.
I am waiting for a more clear setup and I will choose ETH for any oversold bounces if we see BTC break 8k.
Establish a game plan for both scenarios, bull break and bear break.
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