Yesterday I posted a BTC analysis based on the daily and 4H price actions. This morning, both SP500 and Crypto shows recover sign. Again, large cap crypto like BTC and ETH are still highly correlated with US stock market for now.
In my past analysis I mentioned ETH seems like a leading indicator to BTC( it used to be LTC), and ETH has more clear trend and support and resistance level than BTC. If ETH starts to go Higher high and higher low, I will be convinced that BTC will do the same thing.
For now lets see if ETH can turn the $288 level into support and start grinding upwards. Then I will start feeling bullish again!!!
In my past analysis I mentioned ETH seems like a leading indicator to BTC( it used to be LTC), and ETH has more clear trend and support and resistance level than BTC. If ETH starts to go Higher high and higher low, I will be convinced that BTC will do the same thing.
For now lets see if ETH can turn the $288 level into support and start grinding upwards. Then I will start feeling bullish again!!!
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