ETHBTC - A Series of Fib Extensions

26 Des 2020

With bitcoin leading the entire crypto market, the ETHBTC pair has been steadily falling for a few months. If bitcoin can cool off without dumping, we may see ETH gain in value against it. The trading pair appears to have a general long term uptrend since the bottom in 2019. Looking at local bottoms and tops throughout this uptrend by utilizing fibonacci extensions, we can put a 2021 target near 0.05. However, if bitcoin remains volatile, the ETHBTC bottom may not yet be in and this trend will be invalidated.