BITCOIN & ETHEREUM Consolidate On The Daily -- Correlation Likely To Propel Weaker Cryptos In Event Of Bull Break

BTC

ETH

Ethereum and Bitcoin are consolidating on the daily -- meaning inside bars. Earlier today, we saw Litecoin looking pretty bad. However, we did find a silver lining for making a bullish case saying that we're looking for a higher low. If we see the correlation maintain with these top cryptos, it's definitely likely we will see prices propel through resistances to hit the targets we are looking for and wanting.

The consolidation is taking place on the longer charts in the form of inside bars. With a couple days of good bullish upside, it was natural that we'd see the bulls step back briefly to prove themselves to the bears that they will hold prices to a new higher low.

Since initial direction was bullish, I'm still hoping and kind of expecting this rally to be bullish. Before consolidation, patterns typically carry out post consolidation. In the event of this, the target from the expected projections is a likely hit before pulling back to hit a higher low.

Nothing all too negative now -- stay tuned for updates.