It is clear we've got a 2016 fractal on ETH. A lower high, support that held for some time with many wicks and bounces, and when it dropped the price went and filled an untested area from earlier during the pump. For now the ETH bubble hasn't popped against BTC. Bitcoin is sucking all that money and ETH can't do anything right now.
Yes it is on a TD 9 on the weekly, yes it is at an important area on the volume profile, but it has lost the most crucial support and it has at least another 30% drop from here. ETH becomes interesting at 0.012 or above 0.025. Right now it looks extremely bad and I wouldn't touch it. Shorting it is an option, but personally I prefer simply being long BTC
Yes it is on a TD 9 on the weekly, yes it is at an important area on the volume profile, but it has lost the most crucial support and it has at least another 30% drop from here. ETH becomes interesting at 0.012 or above 0.025. Right now it looks extremely bad and I wouldn't touch it. Shorting it is an option, but personally I prefer simply being long BTC