ETH/BTC Monthly Analysis: Bullish Outlook
Based on the monthly chart, I'm bullish on #ETHBTC , and we can anticipate higher prices moving forward.
The chart shows a significant Fair Value Gap (FVG) between 0.04473 BTC and 0.03528 BTC, indicating potential for price expansion to the upside.
The upward targets for ETH/BTC are set at:
- 0.04600 BTC
- 0.05051 BTC
- 0.05600 BTC
- 0.06100 BTC
- 0.07100 BTC, and possibly even higher.
Historically, a bullish ETH/BTC signals that Ethereum is outperforming Bitcoin, and this can often lead to broader altcoin strength. When #ETH rises relative to #BTC , it's not just a bullish sign for ETH but can also indicate the start of an altseason, where other altcoins begin to rally as well.
The invalidation point for this bullish scenario is a drop below 0.02900 BTC.
