How long have you been reading about our bullish Ethereum (ETH) thesis? A month? Two?
Well, we. are sticking with it. Looking at the chart of Ethereum (ETH) vs. Bitcoin ( BTC ), we think now may be time for Ethereum (ETH) to start rallying vs. Bitcoin ( BTC ). ETHBTC dipped on the huge move in Bitcoin ( BTC ), but it held at the 50% retracement of the recent up move. Looking at candles after the last two days, we see ETH ready to join in and eventually take out the previous 4th wave higher at .0223.
Bottom Line: We didn't quite get it right that Ethereum (ETH) would lead the next rally phase. Bitcoin took care of that. We do, however, think that Ethereum (ETH) has a lot of catching up to do on the upside relative to Bitcoin ( BTC ).
DISCLOSURE: Token Metrics is a regular publication of information, analysis and commentary and does not provide individually tailored investment advice. The Token Metrics team has invested and advised in many blockchain companies. A complete list of the team disclosures, advisory roles and current holdings can be viewed here: https://blog.tokenmetrics.com/disclosures/.