I had already published a trade where in I had marked ETHUSD to fall about to USD 150 which is very much on cards. But this chart is quite independent of USD prices which Bitcoin is impacted by.
There can be two meanings of this:
1. Bitcoin may rise quicker than ETH (ratio) to keep ETH at USD 150 and the head and shoulder pattern complete
2. Bitcoin may remain crack a little, and ETH falls only 66% from current levels towards 103
If the freak trades are considered mainstream, then the above prophecy seems already met and we may be in a correction to the corrective. In other words, getting ready for the next move up. The possibility of this although is too less.
As suggested many times, first the BTCUSD would rise, while ETHBTC corrects. Then ETHBTC would begin rising to keep ETHUSD stable and end correction.
Viola, what movements! Someone please give me a medal! ;)
The point I presume is reversal, in current time frame, is just 2% below the current ETHBTC value, i.e. 0.07. (It looks like a funnel pattern.)
1. Is there a compulsion to enter? (Example: buy ether for purchases?)
2. Can I wait for a while?
3. Is what I'm going to purchase dependent on something else? (ETHER is heavily dependent on pricing on BTC, I know people may disagree here)
4. Is this the best buy? (This comes with experience. For instance, in stock markets - Banks & Financials always rise first in greater quantums than others as a group)
So, can you decide with the above four questions and let know?