Looks like we ran out of sellers this morning. The second test of the 2000 ETH low just did not have the volume of sellers needed to push lower. Besides the obvious (everyone got liquidated), here are 3 likely reasons:
1. "B" Part of ABC correction coming in the next week (we have sold off for over a week straight)
2. The Consensus conference is next week/this week
3. Options expiration is next week (never know how this affects movement)
1. "B" Part of ABC correction coming in the next week (we have sold off for over a week straight)
2. The Consensus conference is next week/this week
3. Options expiration is next week (never know how this affects movement)
Comment:
Now to "super-size" this idea....
Moving to 500% leverage. Using ANY movement to buy more ADA (higher beta to ETH, relatively same type of blockchain, just newer and better, without the name, customers, hype).
ADA will double by end of next week if not sooner.
BTW, this "Mega-Rip" is old-school crypto. It will rip straight up hundreds of dollars and will now keep going all day. shorts are getting/going to get SQUEEEEEEEZED.
Just crypto being crypto...
Moving to 500% leverage. Using ANY movement to buy more ADA (higher beta to ETH, relatively same type of blockchain, just newer and better, without the name, customers, hype).
ADA will double by end of next week if not sooner.
BTW, this "Mega-Rip" is old-school crypto. It will rip straight up hundreds of dollars and will now keep going all day. shorts are getting/going to get SQUEEEEEEEZED.
Just crypto being crypto...
Comment:
Selling. Will go short between here (2700+ and 2900)
Comment:
Remember...options expire this week. I am not sure it will hold true this time, but there has been selling pressure into OpEx.
Comment:
Seem to be drifting in a descending triangle.
A bit surprised, but shouldn't be. This still takes us back to February...