ETHBTC seems to be be faithfully following this upward channel for the past year or so, moving up and down within it. Personally, I am expecting ETH to appreciate against BTC more in the short term for the next few weeks before going down again.
The graph of bitcoin to ethereum looks like a good setup, however i am very caution because of pump of bitcoin which could bleed the altcoin market substantially. I'm expecting a consolidation phase in bitcoin right now so this would give a-lot of time to grow for the price of ether.
- Enter at breakout (0.0345)
- First take profit at (0.06), Second take profit...