BTC ETH Lead/Lag Relationship
Bitcoin throughout the past year has time and time again led the altcoin market. I represent the altcoin market with ETH. My chart is comparing the recent bear market of BTC to ETH. The charts shape look identical, but look at the x axis for time. ETH is about 30 days behind BTC on each defined peak/trough. I project its likely that ETH continues to follow BTC's form, by making a double top around ~$800 while BTC continues to consolidate slowly sideways/upwards. Once the double top in ETH forms, BTC should rally, truly leading the market out of the bear market and into a bull market. But when this happens, BTC will rally and ETH (alts) will decline, until BTC stalls. Long ETH (alts) until projected double top, and then flip into BTC long.
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