ETHBTC overshot the target we outlined a few weeks back.
This recent uptrend looks like an extended 5th of a 5th. I do believe ETH will outperform over the long run, but this chart has me leaning towards BTC outperformance initially. The 618 retracement near .043 would be a reasonable retracement such that if ETHBTC made it that low, a good value play could be argued for ETH.