ETHBTC is one of those charts, which can be telling us that volatility is near. ETHBTC pair can be actually finishing a larger (A)-(B)-(C) flat correction. We are tracking final stages of the wedge pattern within subwave 5 of (C) with ideal support here around channel support line and 0.045 – 0.040 area. So, as we have been talking about for a while, BTC.dominance might slow down and ALTcoins may kick in, so ETH could start outperforming Bitcoin soon, just keep in mind that first bullish evidence for ETHBTC is only above 0.061 region.
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On the date of publication, Gregor Horvat did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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