Now BTC and ETH have diverged. BTC has shown a strong upward trend. Although it closed with a long upper shadow yesterday, the entity is not small and has formed an accelerated upward moving average pattern;
However, ETH has shown an abnormal weakness. Not only has the daily chart indicator shown a dead cross bearish trend, but the moving average is also about to cross to form a resonance decline; the hourly chart has performed well, forming a bullish Pinbar signal. It is obviously a rise with volume, but it is also difficult to resist the pressure of the bears.
In this wave of market, I still think that ETH has not fallen, while Bitcoin seems to have fallen to the right position and is entangled. I don’t know how this wave of market will balance the trend of the two.
If the trend of the second child belonging to the first child is followed, Ethereum will be pulled up, and the extreme high point of this month is 4K, and then continue to go down and consolidate in a large range.
If the first child keeps consolidating, the second child quickly inserts down to recover the decline, just like the heaven and earth needle formed a few hours before the last ETF was passed, which can also be justified.
Or, I analyzed it wrong.
The turning point to reverse the unfulfilled view is: Can the golden cross of the 6H chart be confirmed!
