For Ethereum, we had the accumulation phase of a lifetime at $235, and the re-accumulation phase of a lifetime at $400. We discussed the highly anticipated "Ethuary" which was the ETH/BTC momentum shift in January, preceded by the Q4 bleed. Now we find ourselves in a similar position as before. Bitcoin was in price discovery again, corrected, and now has had a bounce taking it just above the 20D moving average. Bitcoin volatility has reduced some and the Ethereum bulls have returned. For ETH/BTC to remain bullish, we would like to see Bitcoin stay at around this level and not have Bitcoin capitulate or go back into price discovery mode. TA Video by Benjamin Cowen.
