We're currently testing the top level of the bullish channel of the ETHBTC valuation. A breakout from this channel, could signal a continued bullish move we're currently seeing in ETH. On the other hand, this valuation also signal that BTC is lagging behind ETH and the rest of the market.
Two possible scanerios:
1. ETH TSUNAMI! Price breaks above the channel and continues higher.
2. The return of the king BTC. Price fails to break above the channel, look for more downside in the ETHBTC valuation. Also keep an eye out for false breakouts.
Two possible scanerios:
1. ETH TSUNAMI! Price breaks above the channel and continues higher.
2. The return of the king BTC. Price fails to break above the channel, look for more downside in the ETHBTC valuation. Also keep an eye out for false breakouts.