ETH: Maybe up? Maybe down?
I painted the May '24 breakout pretty well. This was the breakout running into the ETF approval. Buy the Rumor. Sell the news event. And ETH has been selling off ever since.
All considered, ETH seem to be setting a trend of higher lows as it's attempting to break the trend. Either way, it will break this consolidation sooner or later.
ETH/BTC is the important chart to keep an eye on. BTC could rips to the upside (as it often does) and ETH would sell off on the ETH/BTC pair. Not all bad. BTC profits often rotate into ETH gains. Just like the good old days. BTC Gains --> ETH BOOM!
Take profits.
All considered, ETH seem to be setting a trend of higher lows as it's attempting to break the trend. Either way, it will break this consolidation sooner or later.
ETH/BTC is the important chart to keep an eye on. BTC could rips to the upside (as it often does) and ETH would sell off on the ETH/BTC pair. Not all bad. BTC profits often rotate into ETH gains. Just like the good old days. BTC Gains --> ETH BOOM!
Take profits.
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