🔥 Become A Better Trader By Using The ETH/BTC Chart
Bitcoin and Ethereum are respectively the largest and second largest crypto by market cap. Officially, ETH can be seen as an altcoin, which has historically behaved differently from Bitcoin.
A rise in the ETH/BTC chart generally means that altcoins (=everything which is not BTC) is outperforming Bitcoin on average. The inverse is also true.
However, when we apply the RSI to the ETH/BTC chart we can generally pinpoint the moment of a 'change in market sentiment'. In other words, the market will become volatile after the ETH/BTC chart has become oversold or overbought.
During the bear market, an overbought ETH/BTC has nearly always been the signal for a coming dump. During the bull market, an oversold ETH/BTC has nearly always signaled an upcoming bullish move (scroll left on the chart).
As seen on the chart above, ETH/BTC was severely oversold two weeks ago. With nearly all on-chain metrics saying that the bottom is in, this oversold reading might signal that we're going to see a move up in the near future.
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A rise in the ETH/BTC chart generally means that altcoins (=everything which is not BTC) is outperforming Bitcoin on average. The inverse is also true.
However, when we apply the RSI to the ETH/BTC chart we can generally pinpoint the moment of a 'change in market sentiment'. In other words, the market will become volatile after the ETH/BTC chart has become oversold or overbought.
During the bear market, an overbought ETH/BTC has nearly always been the signal for a coming dump. During the bull market, an oversold ETH/BTC has nearly always signaled an upcoming bullish move (scroll left on the chart).
As seen on the chart above, ETH/BTC was severely oversold two weeks ago. With nearly all on-chain metrics saying that the bottom is in, this oversold reading might signal that we're going to see a move up in the near future.
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