Just plotting the time we've spent above/below the Bull Market Support Band over the life of BTC...Not sure how helpful this is currently but wanted to save it for future review.
Ethereum is interacting well with the Bull Market Support Band indicator where it bounced from the 21W EMA on May 23rd, fell below the support band in mid-June and is now holding resistance at the 20W SMA level for over a week. Once ETH/USD breaks through the support band and holds it as support, we may see bullish action again.
BTCUSD appears to be forming a double three (WXY) pattern, which is characterized by a 7 swing structure. Wave subdivision is 3,3,3 which means all of these 3 waves are corrective sequences. If this correction plays out, BTC could find support in the mid-40k range at its bull market support band.