After a bullish setup on the daily was completely ruined by news, the bulls saw an oversold bounce play out overnight.
Now we have consolidated from that top, and are looking for the higher low to be set on the hourly.
We have a new support level and anticipate a lower high for an hourly equilibrium.
I have continued to play ETH based on what BTC is doing, as the bounces have moved easier for bulls.
The Korean news is being discussed as nothing new, and trading will only be banned by non-compliant exchanges.
Looks like CNN might have posted a click - bait article that led to this selloff.
Another lesson in stop losses to have the opportunity to reload lower, even if it means taking a small loss in the short term to allow for cash for the bounce.
Now we have consolidated from that top, and are looking for the higher low to be set on the hourly.
We have a new support level and anticipate a lower high for an hourly equilibrium.
I have continued to play ETH based on what BTC is doing, as the bounces have moved easier for bulls.
The Korean news is being discussed as nothing new, and trading will only be banned by non-compliant exchanges.
Looks like CNN might have posted a click - bait article that led to this selloff.
Another lesson in stop losses to have the opportunity to reload lower, even if it means taking a small loss in the short term to allow for cash for the bounce.
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Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social