Altcoin Wednesdays - Is ETHBTC reversing its trend?
Today I'm going to bring you a HTF update on ETHBTC. Yes, ETHBTC. Unlike the rest of my TA (usually based on volume), this one is more of a market structure view.
We've seen ETH losing strength since the start of December, when we reached yearly highs. Now we're consolidating in this 0.07 zone, where I've started to see something like summer (marked in yellow).
The fact that the fractal is not exactly the same could lead to some people disagreeing with the idea, but the main reason I'm pointing this out is because a reversal in ETHBTC is likely, and that would be bullish for the whole crypto market, as usually alts outperform BTC in bullish markets.
We've seen ETH losing strength since the start of December, when we reached yearly highs. Now we're consolidating in this 0.07 zone, where I've started to see something like summer (marked in yellow).
The fact that the fractal is not exactly the same could lead to some people disagreeing with the idea, but the main reason I'm pointing this out is because a reversal in ETHBTC is likely, and that would be bullish for the whole crypto market, as usually alts outperform BTC in bullish markets.