While it’s all price action that’s occurred after the daily and weekly close, I am going to give the charts some time to play out with this bullish action for the night and post up the update tomorrow.
Here are the last ranges I posted with an updated ETH chart. BTC is still in the same range, ETH dropped below. I still think it’s a bit early to get excited on BTC so be careful with longs at the current positioning. Technicals look good and smaller timeframes have momentum in line with price but the trend is still down so a pullback wouldn’t be out of the norm from this type of action.
I’ll drop the more detailed synopsis tomorrow after things have cooled off and we can see if this was sustained. If so, it will alter the short-term outlook and I don’t want to make extra work for myself.
Postponing
Postponing
Postponing
While it’s all price action that’s occurred after the daily and weekly close, I am going to give the charts some time to play out with this bullish action for the night and post up the update tomorrow.
Here are the last ranges I posted with an updated ETH chart. BTC is still in the same range, ETH dropped below. I still think it’s a bit early to get excited on BTC so be careful with longs at the current positioning. Technicals look good and smaller timeframes have momentum in line with price but the trend is still down so a pullback wouldn’t be out of the norm from this type of action.
I’ll drop the more detailed synopsis tomorrow after things have cooled off and we can see if this was sustained. If so, it will alter the short-term outlook and I don’t want to make extra work for myself.
@theprivacysmurf