NOW IS THE TIME TO PAY A LOT OF ATTENTION TO ETHBTC

From May 2016 - December 2016
ETH dropped ~78% vs BTC

From June 2017 to December 2017
ETH dropped ~ 85% vs BTC

From May 2018 - present level
ETH dropped ~33% vs BTC

Hence, bottoming at current
levels would be a cyclical
abnormality based on the last two
cycle drops from spring/summer - December.

BOTTOM LINE, I see one of two things happening here. We are supported at these levels and the ratio reverses, or we are bound to breakdown.

MY LAST MAJOR ETHBTC ANALYSIS:

Comment:

We have about 7 days to see how price will support the eth to btc ratio. I continue to believe the .054 area is the significant point where BUYERS will come in. Even if it is broken it does not mean it is over for eth in relation to btc, as capitulation could just run prices down and reverse. This is why watching the weekly close is so important, and even more important, the weekly close this week will also be a MONTHLY close! So there is no question that we are approaching extreme significance on all time frames. Chance of rebounding from this level are greater than 50%. In terms of USD, I expect prices to increase rather than ether simply outperforming in terms of btc and losing usd value. The key level for ETH to break is 515. 515 is similar to what 6800 was for Bitcoin. It doesn't mean a bottom (as breaking 6800 for btc doesn't make it a bottom either), but it does mean higher prices are likely to be reached until the next major level. ETH is a great proxy for alts. So if there is a rebound in the ratio then expect alts to have a recovery. Historically this has been the case.

What worries me about the data is the inconsistency of movement. I think there is a pretty reasonable chance at some point the price of Ether will breakdown against Bitcoin and this trendline will no longer support the ratio. Although happening in the next week seems highly unlikely to me since we have not tested the trendline since December. The clue would be one retest, then another retest following it with minimal recovery. We are not there yet..

Comment:

Again, we have 7 days

Comment:

7 days later... we hit support. Watch level closely

Comment:

MAJOR SUPPORT IS BROKEN. VERY BAD FOR ETHER

Comment:

First target of .025 approaching... The chart gave a fair warning if you interpreted the ratio correctly!!