bitcoin (BTC) and Ethereum (ETH), FTX Analyst Katie Stockton expects BTC, the leading cryptocurrency by market cap, to remain relatively resilient.
The Bitcoin-Ethereum ratio surpassed its 50-day moving average, confirming the bullish trend.
Chart Analyst Katie Stockton Says Bitcoin (BTC) Will Outperform Ethereum in Coming Months
“We expect Bitcoin to outperform in the coming months,” Katie Stockton, founder and managing partner of Fairlead Strategies, said in a note to clients after evaluating the Bitcoin-Ethereum ratio’s recent rise above the 50-day simple moving average (MA).
Stockton’s prediction contradicts several fundamental analysts who expect Ethereum to outperform Bitcoin in the wake of ETH’s newly discovered deflationary cryptocurrency appeal.
The Bitcoin-Ethereum ratio broke above the 50-day MA on Sunday and was at 14.50 at press time.
The 50-day MA, one of the most frequently followed technical lines, has historically been reliable as a breakout point. Three of the previous four moves, where the odds were above average, had yielded significant wins.
“The Bitcoin versus Ethereum ratio has cleared the 50-day MA after falling higher earlier this month,” Stockton said.
“The next resistance for the rate is at the 200-day MA, a break above it will target June highs with little resistance in between.”
*Not investment advice.
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