ETH/BTC Mother of bullish formations - towards ATH
The first cup and handle almost reached the measured target and is forming the last part of the bigger rounding bottom. 3-years old falling wedge target in still play.
Given how BTC.D dropped, the actual use cases behind ETH, bullish sentiment around it, value locked in DeFi and institutions starting to adopt it we might very possibly see ETH/BTC run to all time highs again.
We should face resistance and have proper consolidation between the 0.5 and the 0.382 fib level. Putting things in perspective to USD prices, while BTC tripled the previous ATH, ETH still has room to further explode towards the upside.
Keep in mind that the chart is on the weekly timeframe and does not take into account minor price swings.
Good luck :)
Given how BTC.D dropped, the actual use cases behind ETH, bullish sentiment around it, value locked in DeFi and institutions starting to adopt it we might very possibly see ETH/BTC run to all time highs again.
We should face resistance and have proper consolidation between the 0.5 and the 0.382 fib level. Putting things in perspective to USD prices, while BTC tripled the previous ATH, ETH still has room to further explode towards the upside.
Keep in mind that the chart is on the weekly timeframe and does not take into account minor price swings.
Good luck :)
Feragatname
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