ETH has been forming a tightening pattern on the 4 hour for 2 days now, much long than BTC.
Recognizing this pattern forming and knowing a higher low would be needed was a partial clue for yesterday that BTC was not going to see much follow through to lower lows.
Now the entire sector is getting tight and we can look for potential clue if we see ETH break first, as there is much less space to trade within currently.
I will consider playing the EQ break on ETH but I will ensure BTC breaks in the same direction so we can see follow through.
A game of patience today as everyone holds their breath. Burden of proof is on the bulls for a break AND follow through.
Recognizing this pattern forming and knowing a higher low would be needed was a partial clue for yesterday that BTC was not going to see much follow through to lower lows.
Now the entire sector is getting tight and we can look for potential clue if we see ETH break first, as there is much less space to trade within currently.
I will consider playing the EQ break on ETH but I will ensure BTC breaks in the same direction so we can see follow through.
A game of patience today as everyone holds their breath. Burden of proof is on the bulls for a break AND follow through.
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