Our last long-term signal for ETHBTC was Sell/Short, whether for the Alpha Quant Indicator or ATR-VWMA Trend. These signals can last for a few weeks or remain for months, as it happened in the previous cycle. To explain this, we use Price Transformation, which helps to understand trend changes through Empirical Volatility, Momentum, and Fisher Transform. We can also use the Correlation Heatmap, using ETHBTC as a base and comparing it with other pairs of ETH in stablecoins to identify opportunities where ETH will or will not outperform BTC.

Our conclusion is that 2024 will extend as a continuation of a downtrend, and if that happens, it will be an opportunity to accumulate Bitcoin by exchanging it for ETH as ETHBTC continues its downward trend. Because until new Bullish signals emerge, and ETHBTC will hardly have an extraordinary performance compared to Bitcoin, and this should extend until the end of the year according to market cycle analysis.

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