Reversal sellers are getting squeezed by retail trend following activity. We may face a breakout in the coming days, that will lure more retail sellers into the market just to liquidate them above the $4k psychological level and perform our desired movement.
It’s important to have in mind that ETH is overvalued against Bitcoin in the short term. If Bitcoin doesn’t make a new movement alone (without inducing purchases in the overall market), our bias will be reinforced. Ethereum is not prepared yet to have such market dominance.
It’s important to have in mind that ETH is overvalued against Bitcoin in the short term. If Bitcoin doesn’t make a new movement alone (without inducing purchases in the overall market), our bias will be reinforced. Ethereum is not prepared yet to have such market dominance.
