9.29.2020 Update (Tue)
The big picture on the daily time frames
BTC remains in a bullish trend with the active seller group still selling in profit, which means buying the dips will still be the priority. As mentioned in the weekly outlook, we are in fairly complex Elliot Wave count territory. As a result, a must have entry requirement for longing the current situation is overly bearish short-term sentiment. The zones I’m interested in are 10k and 10.5k for now.
The ever changing battlefields on the hourly time frames
NEutrAL to bearish
Sentiment neutral to slight bearish across exchanges. Not conclusive yet. If BTC drops further, it will likely impact alts. Potential reversal zone is around 340 for ETH. There’s a small likelihood that ETH is currently hitting the bottom of the diagonal channel upwards, but I don’t like the R:R for this setup. I would need both 15min and 30min RSI bullish div to enter ETH long today.