ETHBTC Shows Lower Degree Bullish Setup Formation
We talked about ETHBTC back on July 5th, where we mentioned and highlighted a completed higher degree corrective decline with strong support zone. Since then, we have seen some short-term slow down, which can be just a lower degree bullish setup formation.
ETHBTC looks to be finally ready for a bullish continuation within higher degree wave C/3 after we noticed an impulsive rally into wave A/1, followed by recent a-b-c corrective setback in B/2. With current sharp bounce, seems like wave B/2 is completed and wave C or 3 already in progress, especially if the price jumps back above 0.05150 region. Bullish ETHBTC pair also indicates that Ethereum could be doing better than Bitcoin in upcoming weeks. Can other ALTcoins too? Is it finally time for ALTseason?
ETHBTC looks to be finally ready for a bullish continuation within higher degree wave C/3 after we noticed an impulsive rally into wave A/1, followed by recent a-b-c corrective setback in B/2. With current sharp bounce, seems like wave B/2 is completed and wave C or 3 already in progress, especially if the price jumps back above 0.05150 region. Bullish ETHBTC pair also indicates that Ethereum could be doing better than Bitcoin in upcoming weeks. Can other ALTcoins too? Is it finally time for ALTseason?
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