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Whales are switching ETH to BTC.
Same as other alts.
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Describe the current correlation between BTC & Alts in a gif ?
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Distribution stage will end at a big drop movement
Accumulation stage will end at a big pump movement
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when It is not going quickly as you expected.
- Be calm
- review again your risk management (Lev & size position)
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it tends to break out the gap.
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It is like last moments of Bears & early moment of Bulls.
Once alts drop to support, BTC will suddenly pump.
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The breakdown of wedge in ETHBTC chart indicates ETH should underperform BTC in next big move of market.
Big sellers are selling ETH to BTC.
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BTC above 27k means local support keeps holding well.
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There is a chance to BTC up 28xxx again
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It looks like the first minutes of an random altcoin when CZ listed it into futures
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Both of ETH & BTC spot etf will be approved when Futures market reaches bottom & around Having period
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anyone know the chart of ETH futures ETF ?
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#ETH Short Setup
Re-open
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Altcoins in depression mode in these days.
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Both of circles are different situations
One is distribution
Other is accumulation
Discuss
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Btc is trying to go over the gap
=> close ETH here
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Alts are bleeding today.
BTC is still sideway & green.
Only a special coin is LINK.
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Still same situation in previous 4 days
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what I am seeing now is Alts are bleeding while BTC sideway.
Once alts drop to support, BTC will suddenly pump.
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#ETH update
Trade closed.
Reason: There is a chance to BTC up 28xxx again
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I think Etf spot + Btc halving come at the same time Q1 2024.
It is programmed
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Step 1: First they listed ETH into Futures.
Step 2: ETH drops hard
Step 3: ETH touches bottom
Step 4: Finally ETF SPOT ETH is approved
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ethbtc twap seller is still going
roughly 500 eth per hour are sold for btc.
~125,000 eth left
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