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NOTE: Important to keep searching for clues on direction of overall market, as it’s been moving together for some time. Market is built (manipulated) to keep most people guessing WRONG. When you see outlier patterns like ETH breaking out you want to find an explanation that can lead to high probability trades for all crypto.
As noted in prior posts, most correction targets have been hit for most key crypto. Is ETH ‘s breaking out of it’s ABC correction pattern a clue we need to change the wave count and we’re going for a 7th (or higher) wave up for all crypto? Or is ETH going to fall hard? Or just pull away and leave all other cryto in correction?
As of now there is no clear edge for bulls or bears (even ETH has bearish signs), BUT — if the following analysis proves accurate — watch for “can’t lose up market” for all crypto to show up over next week or two and decide how you might trade it.
One more note- nothing wrong with staying on the sidelines – either way there will be entries. Nothing wrong with scaling in if you are comfortable with ST IT or LT game plan per your trading strategy because prices can fall or rise a lot from here.