I had to watch this several times. So if I understand correctly, the ETH/BTC graph in GDAX in the vid is showing .05801 on the y-axis meaning you can get 1 ETH for .05801 BTC. Is that correct?
The inverse is also correct: 17.2 Ether for 1 BTC when trading directly between the currencies.
Also, I agree that dropping below price support indicates the rally is over, but you are still in BTC and it has gone up. After all that consolidation at 12K-14K levels, do we still have price support there?