Vitalik does not want his coin to close below 0.0246 BTC. That would be DOOM scenario for Ethereum.
Black: ETHUSD
Blue: ETHBTC
Orange: BTCUSD
Vertical lines indicate 0.0246 BTC interaction.
Red bar: strong support/resistance area
Upward curving above this level: heavily bullish
Downward curving above this level: can be bullish depending on BTC
Anything below this level: extremely bearish
Notice that ETHBTC is the leading indicator of the market situations. Currently in my opinion, it is a coin toss between super duper bullish upside or extremely bearish (lower lows).
Black: ETHUSD
Blue: ETHBTC
Orange: BTCUSD
Vertical lines indicate 0.0246 BTC interaction.
Red bar: strong support/resistance area
Upward curving above this level: heavily bullish
Downward curving above this level: can be bullish depending on BTC
Anything below this level: extremely bearish
Notice that ETHBTC is the leading indicator of the market situations. Currently in my opinion, it is a coin toss between super duper bullish upside or extremely bearish (lower lows).