ETH/BTC Set Up For a Big Move… but “Bear Market”

ETH/BTC has a very strong setup in terms of moving averages. If Bitcoin’s inverted head and shoulders plays out, it could send ETH on its way… but, the “crypto 2018 bear market” has rarely allowed such things to occur.

In other words, historically the way ETH has broken out of key EMAs and formed golden crosses against BTC after a proper downtrend has meant a substantial rally is eminent (NOTE: This isn’t always true when ETH is just traveling sideways against BTC; it is only historically true after a proper downtrend for ETH/BTC).

However, this pattern has only been tested once during the 2018 bear, and otherwise is a pattern that occurred from 2015 – early 2018 (during stagnation and then a bull market).

Further, although TA is the art/science of predicting patterns based on the idea that history repeats in price charts because human behavior doesn’t change (essentially), there is no rule-of-the-Gods that says history has to repeat.

Still though, a bull flag formed over key moving averages which goes on to form a golden cross is bullish.

Further, Bitcoin has a potentially bullish setup with an inverted head and shoulders pattern. Since we know ETH likes to follow BTC, and since ETH has a very bullish set-up and is more oversold than BTC, we have a perfect setup for an ETH run against BTC…. if somehow the bear relaxes and best cases play out.

When has that happened in 2018? Well, once back in April. Otherwise the bear paw has smacked down every potential run in crypto essentially and left bulls with nothing but tears.

So, point being, that is the setup from an academic perspective… but as for what you should do with that info, or whether you think other information trumps it, that is on you.

In words, my point isn’t “FOMO into ETH” it is “as a fan of ETH, and with the Constantinople fork on the way, and with that inverted on BTC forming…. things are looking hopeful for HODLers.”