A followup on ETH/BTC
Hello all,
Here reporting again on my Eth/Btc analysis. The price movement of the ratio over the last couple of months is extremely reminiscent of the ratios price movement between November and January.In both cases, there is an initial bear market that lasts 1-1.5 months, soon follwed by a trend reversal with a bull flag forming. After the bull flag formed in mid january, ETH saw an unprecedented move to the upside, nearly doubling in price and moving from a ratio of .032 to .045, a 40% increase. Furthermore, I believe that there is a similar setup forming now. Same bear trend, reversal , and bull flag. Currently at 0.037, I can see the ratio testing previous all time highs at .046, signaling a 24% move to the upside and a $3000 ETH price target.However, If i'm being a little more speculative, and if the ratio gan run up 40% like it did into the new year, then a .05 ratio will be the outcome, in which case I'd have a price target of $3500 for ETH. Either way, ETH is poised to drastically outperform BTC in the coming months
Here reporting again on my Eth/Btc analysis. The price movement of the ratio over the last couple of months is extremely reminiscent of the ratios price movement between November and January.In both cases, there is an initial bear market that lasts 1-1.5 months, soon follwed by a trend reversal with a bull flag forming. After the bull flag formed in mid january, ETH saw an unprecedented move to the upside, nearly doubling in price and moving from a ratio of .032 to .045, a 40% increase. Furthermore, I believe that there is a similar setup forming now. Same bear trend, reversal , and bull flag. Currently at 0.037, I can see the ratio testing previous all time highs at .046, signaling a 24% move to the upside and a $3000 ETH price target.However, If i'm being a little more speculative, and if the ratio gan run up 40% like it did into the new year, then a .05 ratio will be the outcome, in which case I'd have a price target of $3500 for ETH. Either way, ETH is poised to drastically outperform BTC in the coming months
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