ETHBTC seems to be be faithfully following this upward channel for the past year or so, moving up and down within it. Personally, I am expecting ETH to appreciate against BTC more in the short term for the next few weeks before going down again.
that definitely looks like a bear flag to me, it's prolly gonna break down from there.
QuantNaut
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@icehax, maybe. But I wouldn't bet on that possibility. This is a weekly chart with the trend having been upwards for over a year already, and showing no signs of stopping the momentum. So I would argue that trying to forcefully fit a bearish pattern on it makes little sense.
There is a chance of your bear flag scenario playing out, but it likely would be months and years before that happens. So until then, I'm taking a bullish outlook on ETHBTC and ETHUSD.