ETH/BTC New Wave Starting: Bullish Channel

ETH/BTC is seemingly starting a new bullish wave. As a lot of BTC pairs at the moment, it's seeing a great influx of volume. My guess would be that Bitcoin's price uncertainty is causing the value of it against other large caps to decrease, sending the X/BTC pairs up.

For now, the main resistance areas are drawn at R1 and R2, both placed at recent highs. In case we see a new alt-season, expect the price to rise even further. Happy trading!