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Post #1245
101
Forwarded from WUB Signal Room (Chief Quant)
GM
$ETH is showing signs that the bigger move may not be over yet.
When ETH was bottoming, the setup was already pointing toward a stronger pump. We got the first move, but I think there is still more to come. ETH may need another 9 to 13 days to create some space.
The interesting part is that many alts are still holding strong against BTC and ETH. That shows there is real demand for alts.
If you accumulated during June or before August 20, I would simply hold and let the market play out. A correction can happen, but I expect recovery to follow.
My thesis remains that ETH can push above $3,370 first. After that, a decent correction could shake out a lot of people. That may be where the bigger game starts.
For those watching onchain opportunities, things could start working more in our favour after that correction.
Still, a lot needs to go right. This is just a sentiment shift I am watching. If anything invalidates the thesis, I will update.
$ETH is showing signs that the bigger move may not be over yet.
When ETH was bottoming, the setup was already pointing toward a stronger pump. We got the first move, but I think there is still more to come. ETH may need another 9 to 13 days to create some space.
The interesting part is that many alts are still holding strong against BTC and ETH. That shows there is real demand for alts.
If you accumulated during June or before August 20, I would simply hold and let the market play out. A correction can happen, but I expect recovery to follow.
My thesis remains that ETH can push above $3,370 first. After that, a decent correction could shake out a lot of people. That may be where the bigger game starts.
For those watching onchain opportunities, things could start working more in our favour after that correction.
Still, a lot needs to go right. This is just a sentiment shift I am watching. If anything invalidates the thesis, I will update.
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