Ethereum / BitcoinPanjang
ETHBTC Ratio - Cycle Almost Complete
The ETH/BTC ratio is almost complete, looking at the daily time frame it looks like Ethereum is on track to continue out performing Bitcoin and reach the TP3 level placed at 0.10 BTC per ETH.
What I mean by cycle complete is that this red distribution zone marked out on my chart is the exact same level that ETH hit in 2017 twice during altcoin season.
This is an updated read from my previous ETH/BTC ratio reads and i’ve been calling it for a while now. TP1 hit with absolute ease and now just 1st touch rejected off of TP2.
From here, it really looks like ETH/BTC has found support and stabled itself out to where now its going to break through the TP2 level at 0.077218 and head towards TP3 placed at 0.105244
All in all, this move was a 237% gain and congratulations if you played it all the way from the bottom. 🥂
What I mean by cycle complete is that this red distribution zone marked out on my chart is the exact same level that ETH hit in 2017 twice during altcoin season.
This is an updated read from my previous ETH/BTC ratio reads and i’ve been calling it for a while now. TP1 hit with absolute ease and now just 1st touch rejected off of TP2.
From here, it really looks like ETH/BTC has found support and stabled itself out to where now its going to break through the TP2 level at 0.077218 and head towards TP3 placed at 0.105244
All in all, this move was a 237% gain and congratulations if you played it all the way from the bottom. 🥂
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