Eth/Btc has been in decline for over 2 years - If we're generous we could say its hit an ancient trend line, but can it hold? As the second biggest coin there is so much money in Eth, it seems strange for the market not to take advantage of this massive cash vehicle - With Btc so relentlessly bullish its currently pointless to hold Eth against it, but this may change - Watching the smaller time frames will give clues but its advisable to wait for a confirmed breakout before investing - Opinions are welcome
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Its likely Eth/Btc needs some capitulation volume before it can flip direction - Perhaps a deep wick on the monthly that loses and then recovers the 23.60% fib - Watching Note
Eth/Btc dropping thru the last ascending support - This is actually dangerous for the entire Alt market - When i came into Crpto in 2016 Btc had 98% Dominance - If Eth doesnt manage to wick back up we could see Btc Dominance go back up to 70% - Eth Btc needs to wick back up before the end of the month Note
Cautiously saying i think we have a bottom here - no solid confirmation yet Note
small bullish starts on the 15 min Note
Even more downside - this candle needs to wick or Eth could continue to drop Note
Btc/Eth/Sol Dominance charts compared - Some hope for Eth? Note
TRump Coin on Sol network just caused Sol and Btc to crush Eth into the carpet - This could be the capitulation wick we are looking for Note
Compression on the hourly chart Note
The 2 hour Chart - We see Eth on ascending support of the 1x1 Gann fib ray - The red dotted line is the 23.60% fib on the monthly chart - To open a candle above that fib and on ascending support should have a bullish effect Note
Eth blasts back thru all resistance after a deep dip and gets comfortably above the red dotted line that represents the monthly 23.60% fib - Eth Dominance has also now hit the monthly 23.60% fib and bounced strongly - This is very likely to hold and we can expect a price rally when next months candle opens above support Note
Breakout on Eth/Btc 240 - Eth has regained support in time for the monthly candle tonight 
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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.