What if: BTC didn't break out and is currently below the extended support line of the pennant, trying to break to the bullish side. BTC to ETH 24h volume ratio is also close to 2:1 right now, so ethereum has kept quite some liquidity, relative to Bitcoin, which could explain why it's still trying to break out from the pennant (following Bitcoin's fake out)
We broke some kind of downtrend channel to the upside, let's see where this goes. Also, the frequency of price spikes seems to be increasing.. Another short squeezo could explode any time.