Day 8 we are trading within this sideways daily channel, and we know a break is imminent within a few days as things cannot get much tighter.
Zooming out allows us to smooth out patterns and skip some of the more choppy action seen on the 15 min or hourly.
How this channel breaks will significantly shift the odds as to whether or not we see continuation on the daily bounce and inverse head and shoulders pattern... or fade back to recent dump lows.
Pretty much the sentiment of January will begin to be dictated by the direction this channel breaks.
ETH continues to outshine BTC having already broken bullish with a much more favorable bullish correlation.
Great signal on the 4 hour holding a double low of support and breaking lower highs last night, while BTC continued to consolidate sideways on the hourly/4 hour.
Zooming out allows us to smooth out patterns and skip some of the more choppy action seen on the 15 min or hourly.
How this channel breaks will significantly shift the odds as to whether or not we see continuation on the daily bounce and inverse head and shoulders pattern... or fade back to recent dump lows.
Pretty much the sentiment of January will begin to be dictated by the direction this channel breaks.
ETH continues to outshine BTC having already broken bullish with a much more favorable bullish correlation.
Great signal on the 4 hour holding a double low of support and breaking lower highs last night, while BTC continued to consolidate sideways on the hourly/4 hour.
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