The ETH price today is again updating ATH ($4,937), and it looks much stronger than BTC again.

But - in the long position we are specifically on #BTC, buying #ETH would be a violation of our own strategy. The asset is sending multiple signals of a high according to our indicator on different timeframes:

- one mark of a potential high on the 12-hour timeframe,

- three marks of a potential high on the 18-hour timeframe,

- and most importantly - the second Strong signal of a potential high on the weekly timeframe.

Therefore, the plan for ETH remains the same - we don’t want to go long and are afraid to short.

Overall, the picture on the weekly timeframe gives us a 70% probability that the current high is the high for the coming weeks, and possibly even months. We leave 30% for the possibility that the price will continue to rise for another week, marking a third (final) high and then still correct from it.

Can we be wrong? Of course. But there are rules for reacting to signals from the chart, and we adhere to them.

If the asset starts to decline - it is possible that at this moment there will be a flow of liquidity from #ETH to other altcoins. Perhaps the initiative will again be seized by #BTC.

The situation on the ETH/BTC chart supports the second option.

There, as seen in the screenshots, there are also many marks of highs on different timeframes. Including a Strong signal of a high on the 3-day and weekly timeframes. At the same time, the price is approaching global trend resistance with ATH (marked by dotted lines).

It is worth noting that in the current growth, the ETH/BTC chart has broken through a more local trend line - from the high of September 2022, when #Ethereum transitioned from the Proof-of-Work algorithm to Proof-of-Stake. So we can say that the 'curse of The Merge' is broken 😁

The correction of this metric can occur in two scenarios:

- BTC is returning to growth as part of the start of the last bullish run in the cycle and ETH is getting a relief.

- The market is starting to fall and BTC is again acting as a safe haven for liquidity.

We are waiting for the first option.