Eth/Btc 3W - Let's take a wide angle to see better

EETH/BTC 3W;

Looking at the Ethereum/Bitcoin chart from a much broader perspective, we can say that the downtrend is still dominant and strong.

We can see how the IMB and FVG levels are working properly.

If the decline continues down to the +OB level at $0.02934, if the Double Buttom formation support here is insufficient, the decline may continue until the Discount Zone. There are strong support zones at this level, so in the worst case, it will be inevitable to return from this region.

Why is the Eth/Btc pair important for us?

This pair shows the value of Ethereum against Bitcoin. This shows that the market perception is still heavily weighted towards Bitcoin as a safe haven. As is well known, the appreciation of Ethereum against Bitcoin usually marks the beginning of the altcoin season.

#eth #ethereum BTC #Btc #Bitcoin