I can see that ETH will probably go down a bit further from its current level. 0.09 BTC per ETH is still quite overvalued, in my opinion.

BTC is quite undervalued, at least compared to alts right now. Alt season is about to finish and BTC season is about to start again. Expect BTC to outperform the majority of the altcoins on the market in March.

If you're a longterm ETH holder then keep holding, but if you just want to make a short term buck or two, then don't worry about ETH and start accumulating BTC.