ETH USD Another Sell Signal But...
50MA is about go over 100MA again which is usually a sell signal, you can verify for yourself on the map, rarely has ETH been bullish when these two cross that way.
BUT... and it's a big BUT, Musk and Buterin are talking about a Dogecoin and Ethereum collab (I know...I know...) and MicroStrategy is poised to buy $500M in crypto soon (allegedly the 14th).
So what we could see is a quick selloff in the upcoming days down to the $2100 levels, and a very strong rebound once that point is reached, buy then the MAs will probably have reversed too.
Also caught a few whales positioning themselves in the books.
Note that the Buterin and Musk tweet mean we could see an immediate rebound since that's how things seem to work now lol...
Hell of a week. Very confusing when there is so many factors to take in.
Anyways, feel free to tell me what you think.
Hopefully I'm right.
50MA is about go over 100MA again which is usually a sell signal, you can verify for yourself on the map, rarely has ETH been bullish when these two cross that way.
BUT... and it's a big BUT, Musk and Buterin are talking about a Dogecoin and Ethereum collab (I know...I know...) and MicroStrategy is poised to buy $500M in crypto soon (allegedly the 14th).
So what we could see is a quick selloff in the upcoming days down to the $2100 levels, and a very strong rebound once that point is reached, buy then the MAs will probably have reversed too.
Also caught a few whales positioning themselves in the books.
Note that the Buterin and Musk tweet mean we could see an immediate rebound since that's how things seem to work now lol...
Hell of a week. Very confusing when there is so many factors to take in.
Anyways, feel free to tell me what you think.
Hopefully I'm right.