☄️ Crazy development today as we now know that the SEC has officially greenlit ETF's for Ethereum in a widely anticipated move, helping to further bolster and boost crypto's foothold and position in the financial world, giving many a confidence boost in crypto and helping to set the stage for the role that cryptocurrencies will come to play in the next few years for not one, but many.
☄️ Retail investors and whale's have been waiting to see what the SEC would ultimately decide in it's decision on whether or not to approve ETF's for Ethereum, much like what we've already seen in the last few months with the SEC also approving ETF's for Bitcoin setting the stage for others to enter the crypto space such as Blackrock which itself has seen record Bitcoin inflows this month, even hitting a 6 week high as highlighted in the article linked below:
https://cointelegraph.com/news/blackrock-bitcoin-etf-hits-6-week-inflow-high-btc-rally
☄️ That being said as we can see by the chart linked below, Ethereum whales and retail investors alike, took the news well and we can see just how much of a jump we've gotten since then.
☄️ It's a crazy jump, even with the news considered. I mean price jumped from $3100 to $3,700 like nothing even managing to hit $3,900, it's unprecedented but something we'll gladly take, especially after this news it's the kind of positive reaction we like to see.
☄️ Everything considered, the next few days will be pretty pivotal as we'll undoubtedly face retest and traders will be watching things intensely to see whether or not we can break up further or if we'll retrace and get a reversal. Personally I see us retracing, after an impulse move up we almost always see some sort of reversal or retracement. We'll see this battle the next few days as many seek to close positions and take profit while many others in turn will be buying whether it be for FOMO Or in anticipation, hope for prices to move up higher.
☄️ I can see that happening though again, we have had a literal 25% jump from 3100, you don't see that kind of jump everyday, let alone at all in some cases, below I've added two lines to display this ascending channel we've got:
☄️ Personally, I can see this being the make or break it for traders, long as we keep within the channel things are bullish overall but if we fall below and out of the channel then we'll likely drop, retrace and face losing that 200 EMA by which then we'd risk falling even further so I'd definitely keep an eye out for those things and a likely retracement, especially after this impulse wave.
☄️ I just wanted to make a quick post, this has been a historic move and I'm glad I've been able to take part and be here for such an event, I've added a link to an article on the greenlight below as well for reference. Thanks for tuning in and blessing's, here's to a bright future for crypto. 🥂
https://www.ft.com/content/18089b53-3a38-4423-b108-081b55fb2bd1
~ Rock '
☄️ Retail investors and whale's have been waiting to see what the SEC would ultimately decide in it's decision on whether or not to approve ETF's for Ethereum, much like what we've already seen in the last few months with the SEC also approving ETF's for Bitcoin setting the stage for others to enter the crypto space such as Blackrock which itself has seen record Bitcoin inflows this month, even hitting a 6 week high as highlighted in the article linked below:
https://cointelegraph.com/news/blackrock-bitcoin-etf-hits-6-week-inflow-high-btc-rally
☄️ That being said as we can see by the chart linked below, Ethereum whales and retail investors alike, took the news well and we can see just how much of a jump we've gotten since then.
☄️ It's a crazy jump, even with the news considered. I mean price jumped from $3100 to $3,700 like nothing even managing to hit $3,900, it's unprecedented but something we'll gladly take, especially after this news it's the kind of positive reaction we like to see.
☄️ Everything considered, the next few days will be pretty pivotal as we'll undoubtedly face retest and traders will be watching things intensely to see whether or not we can break up further or if we'll retrace and get a reversal. Personally I see us retracing, after an impulse move up we almost always see some sort of reversal or retracement. We'll see this battle the next few days as many seek to close positions and take profit while many others in turn will be buying whether it be for FOMO Or in anticipation, hope for prices to move up higher.
☄️ I can see that happening though again, we have had a literal 25% jump from 3100, you don't see that kind of jump everyday, let alone at all in some cases, below I've added two lines to display this ascending channel we've got:
☄️ Personally, I can see this being the make or break it for traders, long as we keep within the channel things are bullish overall but if we fall below and out of the channel then we'll likely drop, retrace and face losing that 200 EMA by which then we'd risk falling even further so I'd definitely keep an eye out for those things and a likely retracement, especially after this impulse wave.
☄️ I just wanted to make a quick post, this has been a historic move and I'm glad I've been able to take part and be here for such an event, I've added a link to an article on the greenlight below as well for reference. Thanks for tuning in and blessing's, here's to a bright future for crypto. 🥂
https://www.ft.com/content/18089b53-3a38-4423-b108-081b55fb2bd1
~ Rock '
