- Ethereum is much stronger than Bitcoin and this trend should continue until we hit the major resistance from 2017, which is approximately another 85% upwards.
- As you can see on the chart, this whole market structure looks like an ascending triangle . This triangle should break downwards, if we don’t want ETH to flip BTC on coinmarketcap.
- Keep in mind that ETHBTC does not belong to a trending market. It’s more like an oscillator. You can compare this pair to the EURUSD forex pair. So, forex strategies should work much better on this particular ETHBTC pair.
- According to my Elliott Wave analysis, we are currently in the final 5th impulsive wave of the bigger impulsive wave.
- Bitcoin’s dominance is breaking down the key market structure, which, of course, greatly favors ETH.
- Look at my ideas about interesting altcoins in the related section down below.
Ethereum ETHBTC – New all time high this year! Then a big crash?
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Professional trader and analyst. My specialization is in Elliott Wave Theory, Fibonacci tools, chart patterns, candlesticks, and price action. To analyze market structure, I use market profile and volume profile in my trading system. To analyze trends, I use trendlines, VWAP, and simple moving averages.