A while ago, around 2k I said ETH will go to 2500 soon. It almost did. Then I said I closed my position and "I feel like I'm not missing a big opportunity here."
I think now is the time to consider the bearish possibility. I bet your favorite youtuber is almost 100% sure ETH/BTC has bottomed. And you are frustrated ETH didn't move much in this bullish environment. Maybe, it's time to give up :D
I'm not shorting ETH yet. I'm just saying it's time consider the bearish possibility, for the macro chart.
I think now is the time to consider the bearish possibility. I bet your favorite youtuber is almost 100% sure ETH/BTC has bottomed. And you are frustrated ETH didn't move much in this bullish environment. Maybe, it's time to give up :D
I'm not shorting ETH yet. I'm just saying it's time consider the bearish possibility, for the macro chart.
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It's not that scary if you zoom out. Maybe better for the future of ETH?
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An upthrust like this would be great short trigger for me.
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Imagine this is the chart 2 years later. I'd sell everything to buy more ETH.
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That'd be the chart that can carry ETH to 15k. Not the current one.
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I don't think this bounce is different from the previous bounces. I'd change bias above 0.55.
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In fact I think it makes it even worse if I'm right.
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We'll see its real color by the end of the week. It can still be a bullshit. 2650 was the ceiling for the USD pair in my view. For now it holds.
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It'd be nice if it makes this Adam and Eve type of thing. Otherwise this trade is too easy. ETH's fate ultimately depends on BTC pair.
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Ok it's probably bullish now. If BTC sits above 48k, ETH has to go. Online gambling doing the last hurrah in other words.
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This was like the moment I had with BTC when it hit 40k for the first time :D Short lived bearish doubt.
Ultimately anyone with some factual perspective knows that these assets are not going up because they are really valuable. Or because people need them. Or because it's the future. No. But charts say "more". Or they say it's not done. So it doesn't make sense to against the charts.
Ultimately anyone with some factual perspective knows that these assets are not going up because they are really valuable. Or because people need them. Or because it's the future. No. But charts say "more". Or they say it's not done. So it doesn't make sense to against the charts.
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So agree with Peter Brandt :D Failure of massive rising wedge. Failure of bearish patterns are bullish. I'd say look for 3500 level next.