Most analysts are viewing the recent trend of ETH as exceedingly bullish, but when considered against BTC the current uptrend may be an upward channel within the macro downtrend.
Hmmm, well, yes, until you draw the correct upper line of the downtrend channel in and see that we broke through it last summer, testing it in autumn and then again last December before pushing on to where we are. A very bullish picture is building in ETH/BTC. Don’t get me wrong, I generally love the contrarian view, but I just don’t see this as being sharp analysis when your upper line has been drawn on the basis of only two weekly highs, both of them from three years ago and never tested since. A much stronger channel comes from the weekly closes, and that upper line has plenty of data points to confirm it.