ETH-BTC During Bitcoin Season
Updated
Bitcoin is nearing it's all time high again. Assuming Bitcoin season is here, what is the likely path of ETH? For this bitcoin season it looks likely we'll be up in USD on ETH by December. In 2020, ETH doubled while BTC tripled in the fourth quarter. So it also ended up up in USD.
ETH/BTC support lies at 0.055. We'll see if we reach it before ethereum turns around for ETH season. I will keep track of where various points in the channel are as the cycle continues.
ETH/BTC support lies at 0.055. We'll see if we reach it before ethereum turns around for ETH season. I will keep track of where various points in the channel are as the cycle continues.
Note
Oct 17: Top of channel is 4026, Bottom of Channel is 3300. ETH/BTC in a clear downtrend as it broke not one but two diagonal trends in September and October. ETH is still definitely up in dollars - sell at your own peril
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