ETH straight to the moon from here seems to be the current sentiment.
I don't think people are wrong in the arguments for the fundamental advancement of Ethereum. They are just early. The biggest complaint by far is about ETH gas costs. People will need to switch to roll-ups and that will take time. Sidechains are a bad idea for very large transactions. Without solid trustless consensus, your competition is centralized computing. As such blockchain is inefficient compared to local databases. Roll-ups provide a trustless hybrid. Local processing options and with Ethereum consensus. I don't think ETH/BTC is done this correction.
I don't think people are wrong in the arguments for the fundamental advancement of Ethereum. They are just early. The biggest complaint by far is about ETH gas costs. People will need to switch to roll-ups and that will take time. Sidechains are a bad idea for very large transactions. Without solid trustless consensus, your competition is centralized computing. As such blockchain is inefficient compared to local databases. Roll-ups provide a trustless hybrid. Local processing options and with Ethereum consensus. I don't think ETH/BTC is done this correction.
Trade active:
Still in BTC for Marco trade. A weekly close below the trendline at 0.073 seems likely. We have about 3 hours till weekly closed.
Trade active:
ETH struggling to move past 3200.
It appears likely ETHBTC will retest the trend line that has been holding as resistance. If it were to break on the weekly or a strong indication of a reversal was made then it would be time to reconsider. Most posts I see are long ETH on the daily chart a bet against this higher time frame. As I am not day trading I'll stick with the trend. Also worth mentioning it's worth keeping an eye on BTC.D weekly also.
It appears likely ETHBTC will retest the trend line that has been holding as resistance. If it were to break on the weekly or a strong indication of a reversal was made then it would be time to reconsider. Most posts I see are long ETH on the daily chart a bet against this higher time frame. As I am not day trading I'll stick with the trend. Also worth mentioning it's worth keeping an eye on BTC.D weekly also.
Comment:
Substantial progress has been made as this moves to 0.067.
