As you can see ETH/BTC has been following this two years downtrend line, but finally, it did break above it and perhaps we just confirmed it as support now.
We do have a higher low forming and possibly with the upcoming DeFi projects which are built on ETH we can be having a trend reversal and start making higher highs and higher lows in 2020.
This chart does not show it, but since inception, ETH is always having a local bottom in December, so keep that in mind too.
In yellow, I have also outlined the biggest horizontal levels of this pair.
It's possible that we are now in a great buying opportunity.
We do have a higher low forming and possibly with the upcoming DeFi projects which are built on ETH we can be having a trend reversal and start making higher highs and higher lows in 2020.
This chart does not show it, but since inception, ETH is always having a local bottom in December, so keep that in mind too.
In yellow, I have also outlined the biggest horizontal levels of this pair.
It's possible that we are now in a great buying opportunity.