Ethereum/Bitcoin million dollar question. Trend or breakout?
The most important question
It's has been a while since stopped comparing cryptos with USD but with bitcoin. Speaking about bitcoin, most important chart is ETHBTC. Ethereum has been under pressure for quite a while, maybe it's time for change. I remember back in June, ETH had a market cap 90% of bitcoin, everybody was waiting for the flippening.
That did not happen, since then ethereum has been under pressure versus Bitcoin. The downtrend is very visible. At some point Ethereum will breakout to the upside, it's hard to predict. Currently is testing resistance, and at the same time forming a head and shoulders formation on shorter time frame.
Chances are maybe 50/50, but if we see a breakout, it is going to be life changing (at least for me).
Share your thoughts, what do you think?
Chart source: tradingview.com
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