Mihai_Iacob

ETHBTC- Can it go to 0.06? I think is very probable

Long
COINBASE:ETHBTC   Ethereum / Bitcoin
I will not go into very deep details, but, if you make a comparison, you can clearly see that in a bullish bitcoin/crypto scenario ETHBTC tends to rise and in a bearish move is falling.
In my recent bitcoin analysis, I said that I expect the price to reach 50k or above, so we have this bullish scenario (at least in my opinion).
Now, analyzing strictly EthBtc chart we can easily see that, on a weekly chart, the price is forming a large H&S and is trading at this point just under resistance neckline.
Going forward, I will assume that the correlation will be maintained and a bullish BTC will mean a rise in ETHBTC chart and a break above this resistance.
The technical target for such a break is 0.06 which is also an old support/resistance zone

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