Ethereum VS Bitcoin – Double Bottom Formation

Today Ethereum/Bitcoin pair formed a double bottom at 0.05BTC. While BTC reached the technical resistance level near $5920, it could support ETH further, sending ETH/BTC up and perhaps to the new all-time highs.

ETH could start taking over the BTC, and the downtrend trendline breakout could act as an additional confirmation. The very attractive buying opportunity is there already and price for is very attractive.

At the same time break below 0.05BTC will invalidate this view.

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