ETH/BTC could be bottoming out and setting up for a huge run
Updated
The ETH/BTC price is following a very structured path. It bottoms before the bitcoin halving and then goes on a bull run. It's also formed a triangle which could now be tested on the downside. If it bounces it could lead to a very strong rally. The monthly stoch RSI is also in a bottoming formation.
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So far so good. ETH/BTC has entered the green channel where I'm looking for it to bounce. It's currently oversold (RSI) on all time frames.Note
Also the sentiment for ETH vs BTC seems to be rock bottom. Hard to find any bulls atm. Everyone expecting btc to keep outperforming. This is telling me something.Note
This hasn't had the explosion to the upside yet but timing is very difficult. I see extreme strength in that ETH/BTC has hung in there in this zone without dipping lower despite the enormous buy pressure from btc. I think it's just a matter of time now. In general it's still follwing the trends from previous cycles.
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