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Mclobster

ETH/BTC could be bottoming out and setting up for a huge run

Long
Ethereum / Bitcoin (BINANCE:ETHBTC)  
Mclobster Updated   
BINANCE:ETHBTC   Ethereum / Bitcoin
Trend Analysis Chart Patterns
12
2
trendanalysis chartpattern
The ETH/BTC price is following a very structured path. It bottoms before the bitcoin halving and then goes on a bull run. It's also formed a triangle which could now be tested on the downside. If it bounces it could lead to a very strong rally. The monthly stoch RSI is also in a bottoming formation.
Comment:
So far so good. ETH/BTC has entered the green channel where I'm looking for it to bounce. It's currently oversold (RSI) on all time frames.
Comment:
Also the sentiment for ETH vs BTC seems to be rock bottom. Hard to find any bulls atm. Everyone expecting btc to keep outperforming. This is telling me something.
Comment:
This hasn't had the explosion to the upside yet but timing is very difficult. I see extreme strength in that ETH/BTC has hung in there in this zone without dipping lower despite the enormous buy pressure from btc. I think it's just a matter of time now. In general it's still follwing the trends from previous cycles.
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