My thoughts on ETH chart. This might be a good time try an ETH trade. Fundings were reset across the board. Boring consolidation after a trend that most of the retail wasn't really interested in. Maybe they will be interested above $2500.
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Santa rally for ETH. I'd be seriously surprised if it doesn't happen.
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So far so good. But I wanna see strength on ETH/BTC too. I don't believe BTC has so much room above.
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Plus there is no volume, yet. These are not good signs so it's still 'wait and see' zone.
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But again, I love this consolidation structure. My sentiment is near extreme positive.
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Bears should pray it doesn't do something like this. Another big bear trap can send ETH to ATH's. Best case for bears is up-only right now. Few.
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If we get a real dip which seems likely right now, like a said, bears are ultra-fucked. I'm looking at this level.
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I think this is very likely.
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In my experience trends like this result in stronger trends. You don't expect chop after this. Gut feeling says direction should be up.
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I'm like the most bearish bear out there. But I believe in big traps. Euphoria. I don't see it right now. Especially for ETH. If I see it above $2500, I'll be happy to short it.
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The last thing you would want a test of this for example, as a bear. A bear should want up up up right now.
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Not sure about the dollar pair but on BTC pair it was a trap today. Range low is coming imo.
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Honestly I don't trust this breakout. It feels wrong.
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I always believed that 40k-41k has a good chance to be a very important top. And now BTC doing this and ETHBTC trying to bounce again without a good structure. And start of the month, weekend etc. Idk I don't like it.
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I'm not going to believe this is the picotop if it fails. I'd rather this to be the final fakeout and it continues after a hard pullback.
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Daily close is pretty good. The pullback shouldn't be that wild. Market shows strength. Take it seriously.
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Honestly things are not going exactly according to the plan :D Market is not reacting to the breakout the way I thought it would. ETHBTC is still at a weird place.
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I mean if you bought at 2k and below you are still fine and you can sit and watch. But I wouldn't touch it right now if I had no position.
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All hope is still this. Hope is lost for me below 0.46.
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Still all good. Nothing to be bearish. Maybe this is the better way.
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And I guess we can still count this as a fakeout :D We just have to wait a little bit to be sure. It's okay.
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I've seen a funny tweet about ETH. This is literally the point of ETH bullishness. Is it a great macro bottom? No. But denying bearish possibility on the macro chart is also macro bullishness.
twitter.com/IamCrypt...967910793641/photo/1
twitter.com/IamCrypt...967910793641/photo/1
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Bearish people be like "This is not the bottom I like. This is manipulation! Short!" All TA is manipulation bro chill. Play the game.
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Again sir? Jesus ETHBTC is a monster.
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Next week including weekend will be the key for ETHBTC I believe.
Trade closed manually:
I just closed ETH position. This shit is just too stubborn for me at this point. ETHBTC still failing to show strength. Bad weekly close. I feel like I'm not missing a big opportunity here. Still a good trade. GLHF
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It's actually ETH trying to drag market down right now imo. Trading below last weeks lows. This is really interesting. ETH is huge in crypto. With bearish ETH market can't be bullish.
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This reminds me something :D