ETH BTC Bullish Case
For the bullish chart, we switch to the log scale and can see the ETH/BTC ratio is now repeating the pattern from March/April of 2017 within the yellow circle but on a slightly larger scale. If this pattern is going to repeat itself, the ratio should be nearing a bottom within the next day or two creating a buy opportunity. It will be followed by either a reversal in the up direction, or a bit of sideways movement before beginning to climb (see the orange line). Ignore the blue line for now as it is part of the bearish case I've linked to below.
Whether the bullish or bearish case scenario plays out will heavily depend upon bitcoin's choice of direction in the next few days.
Arbee successfully called the reversal around 0.025 ETH/BTC in early Dec 2017. His chart here:
Also, see my Bearish Case here:
Whether the bullish or bearish case scenario plays out will heavily depend upon bitcoin's choice of direction in the next few days.
Arbee successfully called the reversal around 0.025 ETH/BTC in early Dec 2017. His chart here:
Also, see my Bearish Case here:
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.