@eliz883 Hi Eliz ๐, thanks for the clear explanation!
Do you mean this OBV-based view applies specifically to ETH, or do you think that as long as ETHโs OBV remains weak, itโs better to avoid new altcoin positions as well โ for example something like $TAO, which is currently near 0.75?
I plan to sell all my coins.
All of them.
No exception.
We will have different narratives in the next cycle.
We will have a fresh restart.
No need to hodl.
No need to be a community member.
Approach the next months with this mindset.
And you will be fine.
The SELL button will be your best friend.
Congrats for illegally bombing a country that didnโt attack any country in the past 200 years and had no nuclear weapons whatsoever only because Israel that has hundreds of unregistered nuclear warheads and terrorizes everyone around it and worldwide decided so.
People call this cycle the weirdest ever.
They call it a bull run because Bitcoin is in one. But crypto ain't just Bitcoin.
We might be above $100k for Bitcoin but every parameter (compare crypto on-chain volume metrics today with past bull or bear markers) says we aren't in one.
As time went on, Bitcoin broke free from its risk-on asset classification and turned into more of a safe haven due to increased adoption and institutional interest.
Hence why it went against the rest of the market and confused everyone with bull market behavior.
Did we have some phases of relief and resurgence? Yes we did.
But overall the macro environment for risk-on assets like in the past hasn't happened so far yet.
It's why there is a very healthy discussion that things might "still need to start" vs "are we topping soon"?
We still need a stable or growing Bitcoin price for that (which we likely will).
Hoeem put plenty of time into the article below that sheds further light on this (something I've also mentioned my insights on multiple tiles before).
Would recommend the read ๐
$ETH/BTC bullrun hasnโt started yet, this is just a small bounce.. ๐
Ethereum bulls still face significant Challenges ahead.. We can say Ethereum has likely bottomed out, but itโs not out of the woods yet..
Bulls need to break through the Critical Resistance at 0.0276 before we can say Ethereum has entered Bullish territory..
#Crypto #Ethereum #ETH