With the new influx of capital coming into Crypto and the instability and uncertainty of Bitcon, large capital will be looking to stay in the space and they only have a few limited options; Only the crypto's that can handle high liquidity and volume. The upcoming upgrade named "Metropolis" is in much anticipation and can potential lift Ethereum to new heights. ETH has been in an ascending triangle for quite some time now. In the short term we are looking to find stability above the 1d cloud looking for a push above $350 and find support to then make a larger move in a breakout of the triangle with take profit zones highlited.
ETHUSD is the market leader for the rally, so ETHBTC will be highly dependant on what USD value BTC is, but the ETHBTC chart is also showing bullish signs, likely go to for 0.07 as first resistance zone.
Which both perfectly play into the scenario of Bitcoin correcting after this bull trap and large capital will not be wanting to flee out of crypto so ETH is the perfect safe haven. Both markets show a turn around of momentum of higher timeframes that will support the move.
ETHUSD is the market leader for the rally, so ETHBTC will be highly dependant on what USD value BTC is, but the ETHBTC chart is also showing bullish signs, likely go to for 0.07 as first resistance zone.
Which both perfectly play into the scenario of Bitcoin correcting after this bull trap and large capital will not be wanting to flee out of crypto so ETH is the perfect safe haven. Both markets show a turn around of momentum of higher timeframes that will support the move.