ETH/BTC Bearish Case
I have both a bullish and bearish case for the ETH/BTC price. This bearish case represents a continued drop of the ratio down to the 0.036-0.040 level over a long time period.
The red circles most clearly represent the bearish repeating pattern. The counts of 1, 2, and 3 show the three peaks that correspond to one another between the two different red circles. You can ignore the yellow circles for now, as the are part of the bullish scenario.
NOTE: This chart is in the linear scale. In the bullish chart, I will post in the logarithmic scale.
The red circles most clearly represent the bearish repeating pattern. The counts of 1, 2, and 3 show the three peaks that correspond to one another between the two different red circles. You can ignore the yellow circles for now, as the are part of the bullish scenario.
NOTE: This chart is in the linear scale. In the bullish chart, I will post in the logarithmic scale.
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