ETH Formation
ETH has been dancing on some main support as BTC dips below its own. I see the possibility of two paths for this area. Ding ding ding, your right! UP or DOWN are the correct answers.
As the market becomes worried, we may see a high selloff this coming weekend which may push ETH below support and into a descending triangle formation. If BTC is able to regain the 55-57K area, ETH will gain back some bullishness and form a possible continuation pattern. On the smaller timeframes, ETH is in a clear bearish flag. 1550 must hold as support.
As we all know, BTC will dictate how this plays out.
As the market becomes worried, we may see a high selloff this coming weekend which may push ETH below support and into a descending triangle formation. If BTC is able to regain the 55-57K area, ETH will gain back some bullishness and form a possible continuation pattern. On the smaller timeframes, ETH is in a clear bearish flag. 1550 must hold as support.
As we all know, BTC will dictate how this plays out.
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