Strong Bearish Signal on Ethereum against Bitcoin

Hello friends,

Today, I would like to bring to us ETHBTC chart. Believing that smart traders among us must know its implications when ever ETHBTC signal BULL or BEAR. Let me help you all, its signal always precede what ALT market will do.

Very quick one not to waste our time, we have ETHBTC price break important Bullish structures on weekly with price crossed down the immediate trendline support. The good news here is that we have weak support around 0.05599 which should at least hold the price up for now to give us a crucial and major re-test on the trendline and bring about if not major it will be big relief for ALT market. This chart says the above scenario better.

Moreover, having expected huge rejection on the re-test of this crucial trendline brings about the idea of looking for big support to count on as possible BUY Back and major Demand zone.
The hunt for major Demand zone leads us to the idea of potential BULLISH Pennant, where price holding up within triangle.

This level should bring major reversal to the market and open the room for bullish moments.
The idea will be stop here and as well we highlighted some important resistance and support levels on the chart that worth looking at if market behave irrationally.
Thanks for reading through this.

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Price approaching important resistance zone. I expect this to be rejected as proposed earlier.