ETH 4 hour EMA Brick Wall
ETH continues a slow grind down with rejections from EMA resistances.
Surprising to not see any bull break with the BTC bull break from last night.
Bears remain in absolute control with a daily lower high pattern consistent and intact.
Bulls are cautious even on a bull break of this pattern, as we are anticipating a BTC daily lower high to set early this week.
Bears are also cautious down here as I personally would wait for some daily bounce before establishing any shorts at these levels.
Remember the daily RSI levels got to the teens the last major daily dump we had before there was a significant bounce opportunity so RSI alone cannot be the sole factor we base trading decisions off of.
Surprising to not see any bull break with the BTC bull break from last night.
Bears remain in absolute control with a daily lower high pattern consistent and intact.
Bulls are cautious even on a bull break of this pattern, as we are anticipating a BTC daily lower high to set early this week.
Bears are also cautious down here as I personally would wait for some daily bounce before establishing any shorts at these levels.
Remember the daily RSI levels got to the teens the last major daily dump we had before there was a significant bounce opportunity so RSI alone cannot be the sole factor we base trading decisions off of.
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