ETH continues to be the weakest bull of the big 3, as we have lost the double low of $516.
We are watching for the potential of another 4 hour bear flag here as well, and if it breaks there is little support from $500 to $450.
The daily RSI is still oversold but I will only be interested in ETH as a bull if we see a continued dump to lower lows on the daily over the next few weeks.
Bulls will need a 4 hour higher low and higher high to have confidence a daily higher low is being set.
We also never saw the 4 hour cross of EMA 12 and 26 that we saw a couple days ago on BTC and LTC.
Bears should be eyeing ETH for trades as the weakest name, that is equivalent to taking a canoe down a river,
and choosing the river with the faster current. Playing bullish is currently going against the fastest current.
We are watching for the potential of another 4 hour bear flag here as well, and if it breaks there is little support from $500 to $450.
The daily RSI is still oversold but I will only be interested in ETH as a bull if we see a continued dump to lower lows on the daily over the next few weeks.
Bulls will need a 4 hour higher low and higher high to have confidence a daily higher low is being set.
We also never saw the 4 hour cross of EMA 12 and 26 that we saw a couple days ago on BTC and LTC.
Bears should be eyeing ETH for trades as the weakest name, that is equivalent to taking a canoe down a river,
and choosing the river with the faster current. Playing bullish is currently going against the fastest current.
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