Trading ranges for bitcoin and ether moved in opposite directions on Wednesday, signaling differing investor perceptions of the two largest cryptocurrencies by market capitalization.
Moreover, BTC trading volume was lower than in the previous day, while the low price on the day exceeded the low price from Tuesday, generally referred to as a “higher low.” An asset reaching a higher low signals the continuation of an uptrend, even if the price is lower on the day. Monitoring the trading range of an asset can provide clues about investor sentiment, particularly when coupled with volume. Ether’s “lower low” compared to the prior day suggests that ETH holders are entertaining concerns about the market turning bearish.
Looks like we'll have to wait and see if it's a 'higher high' next week!
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