$ETH has added $10b+ in leverage since the election
This unwind will be painful, but $ETH won't go to zero
It will simply range from $2k to $4k for a very long time
The bright side is that Vitalik has adopted MooDeng
How many fucking obvious dips are we going to get before people realize these are relatively cheap prices for BTC
Trump will be inaugurated in a week, and you're not max bullish?
That's now the $ETH untested lows at $3,000 run along with the round number getting blasted.
Next area below is $2700, or Daddy Trump saves us with a strong bid up here and the damage of -30% in a month being the worst of it.
This is absolutely incredible:
US Technology, Media, and Telecom (TMT) stocks relative to global TMT stocks have hit an all-time high of 2.0x.
This ratio has DOUBLED over the last 5 years.
Since the 2008 Financial Crisis, US tech has outperformed its global peers by 5 TIMES.
To put this into perspective, this ratio reached 0.7x at the 2000 Dot-Com Bubble peak.
In other words, the ratio is now nearly 3 TIMES higher than it was in 2000.
US Big Tech is dominating.
$ETH update for emotional peoples who liquidate their futures portfolio at every hourly candle
just be objective and understand this graph...as I have told you several times, being patient in leverage has been the best solution for days now! this range remains a spot purchase zone....as I said from 3200 to 2800 remains a perfect spot range zone (simple invalidation of the loss of 2500 on the week)
so for me excellent pa spot
$ETH - Reclaimed support, back in the safe zone. Actually like seeing the wicks below support because it takes out a lot of stops and triggers a bunch of selling that gets quickly scooped up.
Notice every single dump autoretraces back to $94k
This isn't by coincidence
Market makers are literally hunting every leverage ape out there - so that NO ONE is long before they pump BTC
DO NOT GET SHAKEN OUT BY THE MARKET MAKERS
$BTC holding $93k and the aggression won't start until that level is lost.
Based on the TA it still looks likely that level will snap, and then it's all about the downside total.
Everyone wants $85k which means we probably scare those buyers by impulsing a little further.