BTC$-ETH$

[Caseynotes]

Interesting Bitcoin/USD and ETH/USD correlation/comparison chart;

Plus an Bitcoin technical breakdown reversal pattern chart from CryptoCred (from 5 days ago) which looks to be playing out but could hit the skids if the ETH correlation holds up.

[Caseynotes]

I see Bitcoin just broke down so it did indeed follow the correlation pattern with ETH as in the top chart of the first post above;

[Caseynotes]

This btc eth ascending/descending channel breakout correlation is very intriguing but not sure how it works, is btc following eth would depend on how the channels were drawn but btc seems to break first . As shown in the top chart first post btc keeps breaking the wrong way (ascending channel as pic below would expect a break up not down). 

So the correlation would appear to be that when in a tight channel btc will break in the direction implied by eth channel.