Looks likes ETH is breaking out of BTC pair

[Chaintrader_1]

Hi guys,

It looks like ETH/BTC is breaking out of a H&S formation.
Here my analysis : https://youtu.be/sAupjJ3uZlY

What do you guys think ?

[asyakashi]

Many predict that the altcoin season has begun and market dominance over altcoin is starting to increase.
this will have a big effect on altcoin, Ethereum still has a chance to continue going up in line with this positive trend.
stay careful with rising bitcoin prices.

[hamdi]

its about time that ETH overtakes bitcoin. its just much more useful. all the DEFI contracts and custom tokens... bitcoin is a rigid dinosaur but brings nothing new to the table.

[TravelMug]

Many predict that the altcoin season has begun and market dominance over altcoin is starting to increase.
this will have a big effect on altcoin, Ethereum still has a chance to continue going up in line with this positive trend.
stay careful with rising bitcoin prices.

Dominance is still way above the 60% margin. So be able to say that altcoin is really making a recovery, dominance should be cut like in the 40%-45% in my opinion. But then again, someone will argue that we really don't see the real picture if you are going to gauge bitcoin's dominance so it's a moot argument.

So I don't think that ETH though is breaking out of BTC pair. After all all coins still rely on BTC so it's hard to say that some coin are having its own course and totally dependent of BTC, just saying.

[TriplexXx]

Don't worry the bitcoin market dominance is already falling. bitcoin market dominance reaches up to 70% of the cryptocurrency market few weeks ago but now that huge market dominance is starting to fall (66% now) and that shows a good sign that the altcoins season is coming sooner than expected.   

[djselery]

There are some signs that the altcoins market is going to recover again during the few coming weeks and months. Bitcoin's dominance is actually falling, and ETH price is also slowly rising, so we expect that the prices of most promising altcoins are going to increase highly soon. And of course, Ethereum is the best and most popular altcoin right now.

[BitHodler]

There are some signs that the altcoins market is going to recover again during the few coming weeks and months.

People have been pointing at signs of altcoin recovery this whole year and none of them have done much other than go down. BNB has been somewhat of an exception, but it has been beaten down too lately.

It makes much more sense to let the market bottom out before being bullish.... when Bitcoin takes another dump we're back to square one. Great time for satoshi stackers, not so much for get rich quick noobs. Accept that.

[jmigdlc99]

Hi guys,

It looks like ETH/BTC is breaking out of a H&S formation.
Here my analysis : https://youtu.be/sAupjJ3uZlY

What do you guys think ?

That looks like a mere coincidence and looks different viewed from a different time frame. While ETH is great, I don't think it has the capability to decouple itself from Bitcoin's fate just yet. Bitcoin dominance is at it's peak based on recent events and i dont see that changing anytime soon.

We'll have to see when and IF ethereum goes version 2.0 or proof-of-stake, but even that is a big IF.

[Murat]

Bitcoin price is way too high that's why most the people looking to buy ETH. ETH has the potential to go as big as BTC in the market. With ETH you can do send or receive also you can get services from ETH Dapps. Also recently we heard the news from big liquidity groups that institutional investors are investing in altcoins such as ETH LTC BCH etc. In the altcoin market, ETH is always the leader in the altcoin market and the price correction already happened. I think we would not see the 52 weeks low 82 USD again in the near future. For me, it's great time to get in ETH as people already started investing in ETH.

[electronicash]

yes good to see altcoins are rising. i'm not of an altcoin, though its not going to rise that much but if you have about more than a million to 5 million, it must be a huge gain.
noticed you are in bitmex chart, i'm not really using Stoch RSI but i can see you do in your chart its that the default (1.3,14,14, close) and your RSI (14,close) can this setting help for day trading?

[michellee]

Many predict that the altcoin season has begun and market dominance over altcoin is starting to increase.
this will have a big effect on altcoin, Ethereum still has a chance to continue going up in line with this positive trend.
stay careful with rising bitcoin prices.

Yes, it starts to increase, but bitcoin still dominance at the market. We look in a few hours ago when the bitcoin price was down again, the altcoin was down too. But the other altcoin still trying to increase, but that is not easy in the middle of bitcoin dominance. That also happens with ethereum, in which the price is not growing too significant. There are many possibilities when the altcoin, especially ethereum, can break the higher price, and there is no reason for the altcoin to increase higher.

[Hypnosis00]

if we look in more detail ETH actually still has a chance to rise and will not come out of the btc pair. but now the altcoin market seems to be experiencing signs of rising slowly, we can wait for that moment for ETH to go up

All crypto coins have that chance, this is how the market plays actually. What we could see with ETH now is still doing great. We can't say that the market isn't healthy all, in fact, we're not dropping more as what we've experienced early this year, we are actually at high...enough to say that the market is still healthy.
I supposed to think that we might be having a few pumps this quarter but it looks like we missed again.

[dark08]

Hi guys,

It looks like ETH/BTC is breaking out of a H&S formation.
Here my analysis : https://youtu.be/sAupjJ3uZlY

What do you guys think ?

Your analysis is good but based on my experienced and analysis on ethereum it's still follow on the move of bitcoin in other words if bitcoin will go down right now ethereum will also follow this is the power of bitcoin, but yet its a good move for ethereum to hold the $180+ level.

[Yamifoud]

It was just a looked but no really it was. Ethereum won't go far without the help of bitcoin, not even to see it now for sure cause Bitcoin still not moving back into high again. Ethereum is still at $180 plus, that it looks a sustaining price up today. Weren't be sure that it drop more but I have confidence that it will move back to $200-$300 before we end up this year. But as many says, only it happens if bitcoin will also move.

Though it looks positive since we are in the BER months which most bull run occurs but, of course, we can't still give assurance of that unless the market makes a progressive growth started this month.

[Wysi]

Hi guys,

It looks like ETH/BTC is breaking out of a H&S formation.
Here my analysis : https://youtu.be/sAupjJ3uZlY

What do you guys think ?

Your analysis is good but based on my experienced and analysis on ethereum it's still follow on the move of bitcoin in other words if bitcoin will go down right now ethereum will also follow this is the power of bitcoin, but yet its a good move for ethereum to hold the $180+ level.

This reminds me of first quarter of 2018 wherein the downfall of bitcoin started early but ETH was at it's  all time  best value and survived there for approximately 3 months then ETH started to fall as well. I believe that the growth of all the altcoins are related to bitcoin's growth. I think it will take ages for altcoins to perform individually.

[BitHodler]

Your analysis is good but based on my experienced and analysis on ethereum it's still follow on the move of bitcoin in other words if bitcoin will go down right now ethereum will also follow this is the power of bitcoin, but yet its a good move for ethereum to hold the $180+ level.

Everything is very much still connected to what Bitcoin does unless there is an altcoin season, which I don't see happen any time soon. People need to be aware of that and make a rational decision and not just fomo in.

A lot of people have been trapped in buying overly expensive altcoins because they were "breaking out" in a bullish way. Bitcoin did not agree with that and the whole market took a massive dive as result of that.

I think that if Bitcoin goes back to $5-$6k, we might see Ethereum back to $100-$120 which I will use to stack up on Ethereum. I did so last year and I'll happily do it again. It's too good of an opportunity to say no to.

[palle11]

but I have confidence that it will move back to $200-$300 before we end up this year. But as many says, only it happens if bitcoin will also move.

In this history of cryptocurrency, bitcoin has never been down while altcoins increase and it is not going to happen now, I don't think so. In 2017 , it was bull for bitcoin likewise also altcoins.
In 2018 till now, same bear and bull for bitcoin and altcoin is still trying to come up . So bitcoin has always been the guard to the move up or down.

[darkangel11]

but I have confidence that it will move back to $200-$300 before we end up this year. But as many says, only it happens if bitcoin will also move.

In this history of cryptocurrency, bitcoin has never been down while altcoins increase and it is not going to happen now, I don't think so. In 2017 , it was bull for bitcoin likewise also altcoins.
In 2018 till now, same bear and bull for bitcoin and altcoin is still trying to come up . So bitcoin has always been the guard to the move up or down.

Not in general but single altcoins used to pump when Bitcoin was not. Especially altcoins with low volume.
ETH is pumping because there's going to be a hard fork and people are stacking up as always. When BCH was about to fork it pumped and then dumped after the fork. It has nothing to do with Bitcoin and its price.

[MonsterV]

Hi guys,

It looks like ETH/BTC is breaking out of a H&S formation.
Here my analysis : https://youtu.be/sAupjJ3uZlY

What do you guys think ?

Your analysis is good but based on my experienced and analysis on ethereum it's still follow on the move of bitcoin in other words if bitcoin will go down right now ethereum will also follow this is the power of bitcoin, but yet its a good move for ethereum to hold the $180+ level.

Well it's true that bitcoin and ethereum will always be correlated. Maybe @OP got good news about ethereum from its analysis but @OP only did a single analysis on the pair. Even though ethereum charts shows good but bitcoin chart shows opposite, ethereum will not be able to fight bitcoin because they are correlated.

Like the picture below, maybe yesterday ethereum chart was good because the state of bitcoin had broken resistance but now situation has turned back and let's look at the next situation.

[Julian ogan]

As per this weeks Crypto Technical Analysis, Bitcoin has suddenly jumped by $500, up from $8,200 to a recent high of $8,700 and currently trade at $8,380. It’s not clear why bitcoin rose, but it looks like this has more to do with Ethereum than BTC. That’s because Ethereum moved a bit earlier and a bit faster, rising from $179 to $195 and currently trade at $186.

The reason for this breakout would be due to the launch of ethereum 2.0 genesis block in January. Also, UNICEF said -

“will now be able to receive, hold and disburse donations of cryptocurrencies ether and bitcoin, through its newly-established UNICEF Cryptocurrency Fund."

All these factors lead to the bullishness of Cryptocurrencies.


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