ETHBTC: Bitcoin will outperform Ethereum unless this line breaks
The ETHBTC pair on a 1W basis has been trading sideways this past month. The 1W MA50 (blue) is supporting. With also have another two rising Support levels, the Higher Lows trend-line A (started on Dec 26th 2016) and the Higher Lows trend-line B (started on December 23rd 2019).
The Resistance Zone since May 10th 2021 is holding and only if this level breaks, can we see an immediate rally on ETHBTC. Until we do, it is more likely to see Bitcoin outperform Ethereum as the candle action since March 2022 is similar to the one from September 2018 - May 2019. The 1W RSI is a testament to the repetitive nature since March 2016.
If we get a repeat, that would make a bottom on Higher Lows trend-line A and then steadily rise on Higher Highs and Higher Lows.
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The Resistance Zone since May 10th 2021 is holding and only if this level breaks, can we see an immediate rally on ETHBTC. Until we do, it is more likely to see Bitcoin outperform Ethereum as the candle action since March 2022 is similar to the one from September 2018 - May 2019. The 1W RSI is a testament to the repetitive nature since March 2016.
If we get a repeat, that would make a bottom on Higher Lows trend-line A and then steadily rise on Higher Highs and Higher Lows.
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
## Also DONATIONS through TradingView coins help our cause of increasing the daily ideas put here for free and reach out more traders like you. ##
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