Simple thing I noticed.
Ethereum appears to be in a descending wedge which could signal a short term bullish reversal. Perhaps on the back of hype about the merge to PoS. Meanwhile Bitcoin looks like it's tracing out a rising wedge which could signal bearish continuation. Curious to see if ETH can decouple from BTC temporarily. In the event that this happens as laid out, I still think the market (including ETH) will go in whatever direction BTC goes in the medium to long term. Macro trend is still gross.
Ethereum appears to be in a descending wedge which could signal a short term bullish reversal. Perhaps on the back of hype about the merge to PoS. Meanwhile Bitcoin looks like it's tracing out a rising wedge which could signal bearish continuation. Curious to see if ETH can decouple from BTC temporarily. In the event that this happens as laid out, I still think the market (including ETH) will go in whatever direction BTC goes in the medium to long term. Macro trend is still gross.
Commento:
welp we just blasted down, totally thought longer consolidation was in order at the very least.