A vote for ETH and a vote against XBT in the short term.

9 mag 2016

ETH has broken out of its 4 hr structure and rallied as expected. Now a nice retracement has almost completed. It has the look of wanting to go long as much as the XBT looks like it wants to go short. However looks don't make a trade. Watch for a pull back to the .500 where you find a trend line and strong support area. I will look for signals to go long at this level. Otherwise a break and close above the purple line with some consolidation. If on the other hand it breaks below the .618 and blue 4 hr TL, there is not much to stop it until 1650.