(Monthly chart) ETHBTC may have significative upside, up to 0.08+. It may break up or grab more some more liquidity around the 0.05 mark (lower bound of BB).
Either way, i see more upside than downside. Two possibile Long entry points: on confirmed resistance breakout and/or on weakness through scattered orders in green support area.
Keep in mind this is a MONTHLY chart, hence this is a long term analysis.
Chart image (Since Tradingview usually messes the chart):
Summary:
Close to resistance
Red TD count 8
CMF approacing zero, rising.
RSI rising.
Stoch RSI oversold, rising.
MACD flattening
Lower BB flattening close to 0.05
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Watch it.
MACD still intelocutory, but look at CMF. See what happens when it breaks-up zero level.
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Update (M): look at how RSI and Stoch RSI both turn up now ... it's just a matter of flipping MACD now.
If february closes like this it may pave the way for a pretty bullish trend till last quarter of 2024 at least. +50/100% upside possible.
At the moment the upper route seems likely. Anyway, watch for a breakout, it should not be that far.
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Focusing on "Plan A" for the moment. See the ascending triangle, whose natural target sits slightly above 0.07.