Bitcoin And Ethereum Flash Reversal Signs

The crypto market looked good today, with most of the important coins trading in the green. At the moment, the first coins on CMC are trading in the red. Check out the latest reports about the prices of the digital assets and also take a look at some predictions about BTC and ETH.

It’s been just revealed that the crypto strategist Nicholas Merten says the charts are showing that Bitcoin (BTC) and Ethereum (ETH) are gearing up to end their four-month downtrends.

In a new video, Merten said that Bitcoin bulls have been keeping the market afloat since January as BTC repeatedly printed higher-low setups.

“I want to go ahead and focus in and again not only the consistent price support that we’ve been seeing, the eagerness in price as price is continuing to make higher lows since late January, but focusing on Bitcoin is really one thing.”

Looking at Merten’s chart, he believes BTC is about to bottom out before a surge above $60,000.

He also addressed Ethereum in its Bitcoin pair (ETH/BTC). According to Merten, ETH/BTC also looks bullish as the pair continues to respect its diagonal support.

“The major thing I want to point your attention to is the growing strength we’ve been seeing in the ETH to BTC ratio.”

He continued and said the following:

“The same exact trend here: consistent support range and/or higher lows, which we’ve been seeing all the way as far back as the earlier part of 2021. Now we’re seeing on the short-term trend a revisit back upwards on the ratio climb up higher.”

He also notes the fact that ETH/BTC looks poised to rally to 0.09 BTC, currently worth $3,790 in the coming months.

As for Ethereum itself, Merten says the leading smart contract platform could surge before the end of the month.