I tried to post this chart as a follow up to my last ETHBTC chart but it kept rejecting it?! Anyways long interest hasn't capitulated in the least so the chart is still relevant. ETHBTC looks like it made a weird double top on this line chart and with LONG interest so high I feel very comfortable holding shorts here. Good luck.
Eventually alts will come back into favor, but it isn't likely anytime soon. Looking at ETHBTCLONGS and LTCBTCLONGS the alt traders are still buying ETHBTC and LTCBTC. I can't see capituatlion happening with this many longs, it's way too crowded. Until further notice, it seems prudent to just play BTC longs and wait for the bagholders to fold. GL