This pennant will be a bit longer than some may have hoped. The more optimistic (assuming, you're holding) support-line did not stand the weight of ETH's losses, and it will continue to go down as BTC continues to stabilize at 7,000.
I will continue to update this, so follow me for the latest on ETH and ETHBTC
I will continue to update this, so follow me for the latest on ETH and ETHBTC
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Closer look
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Still going down. The big push town might come when we have our long awaited BTC bull-run. For several months, the declines in ETHBTC ratio have come from people panic-buying in which people sold their ETH in a panic to buy cheap BTC. In the BTC-bull run I'm talking about we may move into a Panic-Buy situation in which people are selling ETH to buy a rapidly growing BTC. That effect can snowball since more and more people will look at a big red candle stick of a declining ETHBTC and want to get out to wait out the storm.