1/🧵@WealthGroup trader @regothetrader breaks down current $BTC price action, key levels, and why this environment demands patience for our community on a daily basis.
Below is a summary of his write up he shared exclusively in @WealthGroup a few days ago ⬇️
Relief Bounce Or Reversal?
$TOSHI is charging up
$BTC dominance looks weak
Meme coin downtrend breakout
Why the bears are WRONG!
https://t.co/yZsiXOysyt
TA & Market overview
$BTC $ETH $TOSHI $ALB $WMTx
ETH fud often masks itself as intellectual discourse. They aren't fudding, they're just "asking" or "discussing".
Old fuds currently off meta
- eth is dying/losing (watch for corpo chains to potentially revive this)
- ethereum can succeed but not ETH (always lurks in the background)
Active fuds
- L1 and L2s are in negative sum (actually it's massively positive sum)
- any alt L1 is in the same league as eth (in reality, they are competing with e.g. Base and Lighter, not the L1 or ETH)
- rev/fees matter for the ETH valuation (fees don't drive monetary premium, they are a relatively small supporting factor)
imo, it may be particularly key for us rn to keep pushing back on the fud of L1 and L2s being in negative sum, and all of its variants such as parasitism and L2s "taking advantage" of L1.
Eth's L1+L2 model is firing on all cylinders. It'll grow to global ubiquity and take ETH to multi trillion. At this point this might fail only if they convince us we're not all on the same team.
ETH 🤝 Ethereum 🤝 L2s