Ethereum Versus Bitcoin: Getting Tight

Updated

Ethereum / Bitcoin is getting curiously tight around the 50% Retracement Level. Price abhors a consolidation and one direction or another we can expect to see a fast move away from this level. It will be interesting to watch this near term answer to the debate of which currency is going to become more dominant...

See below for Higher Timeframe Analysis

Note

Ichimoku Analysis implies a more likely bearish move as price is below the cloud and set to trend full bearish

Note

Broadly on the Weekly the failure in September to breach the last made high indicates momentum has stalled after the hold of the 50% Retracement Support and sets up a classic Head and Shoulders.

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