The above article talks about (Qingmei Zhubi: The relationship between the start-up time of altcoins and Bitcoin), this article specifically talks about Ethereum.
First of all, ETH’s main uptrend has not yet arrived.
The overall ETH market is still running below the downward trend line. Only after breaking through 3700 and stabilizing can the market open up upward space.
Secondly, the daily line of the ETH/BTC exchange rate showed a bottom divergence again.
The MACD line of the ETH/BTC exchange rate oscillates below the 0 axis to form a golden cross + bottom divergence, so the probability of the ETH/BTC exchange rate bottoming out increases.
Thirdly, a bullish head and shoulders bottom pattern appeared in the ETH/BTC exchange rate at the hourly level.
The ETH/BTC exchange rate has formed a bullish head and shoulders bottom pattern at the hourly level as shown in the figure above. The neckline support is at 0.035, the theoretical target of the head and shoulders bottom is 0.039, and 0.04 is a historical pressure level.
Therefore, structurally speaking, the ETH to BTC exchange rate is relatively strong.
In general, if ETH strengthens, it will be good for its ecological currency and even the entire altcoin.
