BTC lows been lost, sitting in fat VPVR gap (liquidity vaccum)
ETH hasn't lost the June lows yet, so objectively much less bearish, but GL surviving a further drop from BTC, in that case, ETH would technically have further to fall I guess?
ETH / BTC cross LTF weak, but HTF just ranging still, so would assume keeps approx. parity with BTC through it's next big move..
fwiw, I don't have any "breakout" setups for shorts... Would need a squeeze up into local short RLZ's for me to take on any fresh short positions...
In the absence of any new information/catalyst, I'd expect BTC to take a slow, painful drip down to the base of the VPVR gap in the coming months... Physics playing out on the chart..This post is based on this twitter thread.