Cryptocurrency notable for its analysis Chris Burniske, a former crypto analyst at Ark Invest, In his post on Twitter Ethereum Made a new post about it.
Commenting on Ethereum’s move against Bitcoin, the analyst said, ETH/BTC He pointed out that he is preparing for the big break in his chart.
Noting that there has been consolidation in the ETH/BTC chart for almost two years, the analyst said, EthereumHe said that Bitcoin is preparing to make an exit against Bitcoin.
“After almost 2 years of consolidation, Ethereum is poised for a monthly breakout against Bitcoin.”
Burniske, to his share ETH/BTC added the chart.
Looking at this chart, Ethereum made its last exit against Bitcoin in May 2021.
Before May 201, the ETH/BTC chart consolidated for 931 days. Out of this consolidation phase ETHIt gained more than 150% against Bitcoin in May 2021.
After almost 2 years of consolidation, $ETHBTC is primed for a monthly breakout. pic.twitter.com/btUzBP9Ew5
— Chris Burniske (@cburniske) February 27, 2023
If the breakout that Chris Burniske is talking about happens, then Ethereum will have a smaller rally against Bitcoin than last time, given that the current consolidation process is taking a shorter time than the previous one and therefore the amount of power accumulated for a potential rise is also lower. can be expected.
ETH/BTC chart is trading at 0.070.
*Not investment advice.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price tracking right now by downloading our apps!