Spirits Fizzle

Just as I was obsessed with the price level of 1706 on Ethereum (which turned out to be awfully important), so too have I been watching the horizontal on ETH which constitutes a powerful bullish pattern. It was quite interesting this weekend that, yes, it did break above that level with a touch of drama, but it virtually instantly reversed.

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Its much bigger brother, Bitcoin, didn’t even come within spitting distance of its own horizontal. As I’ve pointed out in recent crypto posts, BTC has been far less robust than ETH.

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My point is that crypto’s recovery seems to have already exhausted itself, and sooner or later (probably when I get my boarding pass this week……….) these flaccid acts will be reflected in equities as well.

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