Ethereum D-Channel Intact

There's been lots and lots of whale money-movements on the Ethereum side... I see the news and read about Vitalik that wants to speed up transactions; withdrawal signal?

Looking at Ethereum (ETHUSDT), we can spot a perfect descending channel (D-Channel); bearish action still intact.

A minor bounce occurred recently which is 100% unsupported by volume. No volume which means no strength which means that the bearish bias remains intact.

You can visit the previous trade-idea on this pair if you want more information. Or you can follow and I'll publish more.

Thank you for your continued support.

Namaste.

Komentar:

It is sitting in mid-air... Just standing there, with no support...

I was speculating that all the Ether (ETH) being transferred to all major exchanges might be used to sell to all the buyers that will be jumping in with the launch of the Spot ETFs for Ethereum... Maybe it isn't a bearish indication that billions of dollars are being transferred to exchanges in the past two months, quietly ...

Ok... Imagine how much the smaller altcoins would grow if Bitcoin and Ethereum, the King and Queen of Crypto, would to produce a 20-30% flash crash! How much?

(2) While much of the market is already trading near its January 2024 level, another portion is trading much, much, much lower and yet another portion is trading near or at, all-time lows.

These will boom when the giants drop.

Namaste.