Ethereum - Prepare For The $2,150 Double Top
I've heard that a number of "Chinese Partners" and even their wallets were directly involved in the formation of the Ethereum Foundation.
Whether that's true or not, the reality is that too much of today's digital currencies are connected to the Chinese Communist Party, and that's a big problem for long term bulls when the United States and its allies are talking about "de-risking" from China and Xi Jinping is not in anyone's good books.
Moreover, with the 24-year persecution of Falun Gong by the CCP hanging over everyone's head, being bullish on anything with its roots in China is like asking to get "Zeroed Out" in the truest sense of the word overnight, one night.
At present, you're being told that a bull market is not only coming, but here.
However, with the exception of Bitcoin Cash, which I actually called in like August of last year but it took forever to pan out and I forgot about it:
You're already pretty close to the tops.
Once we're finished here, early bulls aren't going to like their bags and a lot of these alts you think you're smart buying are going to end up at zero because they won't be listed on the federally regulated exchanges or Coinbase.
Anyways, here's the situation.
Bitcoin futures (futes is all that matters) supports a move to $33,000 to $35,000 based on the monthly bars, which I outline in a very accurate call here:
Bitcoin - Balance Amidst FUD
However, Ethereum futures does not support a new high because it already rebalanced the gap in April:
The overall macro situation in the broader markets are also not good at the moment, and a lot of things are about to change. You can view my calls included below and decide for yourself what you want to believe in.
June 30 is also quarter end for the real economy.
Because a new high is not likely, and Bitcoin is primed to go another 10%, where we're at is that we're looking more at either a $2,050 almost-top or a $2,130 double top.
The technicals on this particular trade are also that Eth broke to the bottom of a triangle/flag before it went up.
When it broke to the bottom it neither took out a key pivot nor did it rebalance a key gap, which it really should have done if the target was, say, $4,000 again.
So, if you ask me, you're about to get a time to sell your longs and go short. But they're telling you it's time for you to go long for the super moon.
But what if the moon is still a long ways away?
It's a long fall back to $1,000 if the furus and the Discords and the megaphone accounts are wrong.
The call:
1. Ethereum does not make a new high
2. Do not buy the dip. Short the rips after the rejection confirmation.
3. Keep shorting baby
4. Short and short and buy it all back low
If you can enlighten to it you'll do pretty well. If you can't, you'll lose a lot of your future, won't you?
Whether that's true or not, the reality is that too much of today's digital currencies are connected to the Chinese Communist Party, and that's a big problem for long term bulls when the United States and its allies are talking about "de-risking" from China and Xi Jinping is not in anyone's good books.
Moreover, with the 24-year persecution of Falun Gong by the CCP hanging over everyone's head, being bullish on anything with its roots in China is like asking to get "Zeroed Out" in the truest sense of the word overnight, one night.
At present, you're being told that a bull market is not only coming, but here.
However, with the exception of Bitcoin Cash, which I actually called in like August of last year but it took forever to pan out and I forgot about it:
You're already pretty close to the tops.
Once we're finished here, early bulls aren't going to like their bags and a lot of these alts you think you're smart buying are going to end up at zero because they won't be listed on the federally regulated exchanges or Coinbase.
Anyways, here's the situation.
Bitcoin futures (futes is all that matters) supports a move to $33,000 to $35,000 based on the monthly bars, which I outline in a very accurate call here:
Bitcoin - Balance Amidst FUD
However, Ethereum futures does not support a new high because it already rebalanced the gap in April:
The overall macro situation in the broader markets are also not good at the moment, and a lot of things are about to change. You can view my calls included below and decide for yourself what you want to believe in.
June 30 is also quarter end for the real economy.
Because a new high is not likely, and Bitcoin is primed to go another 10%, where we're at is that we're looking more at either a $2,050 almost-top or a $2,130 double top.
The technicals on this particular trade are also that Eth broke to the bottom of a triangle/flag before it went up.
When it broke to the bottom it neither took out a key pivot nor did it rebalance a key gap, which it really should have done if the target was, say, $4,000 again.
So, if you ask me, you're about to get a time to sell your longs and go short. But they're telling you it's time for you to go long for the super moon.
But what if the moon is still a long ways away?
It's a long fall back to $1,000 if the furus and the Discords and the megaphone accounts are wrong.
The call:
1. Ethereum does not make a new high
2. Do not buy the dip. Short the rips after the rejection confirmation.
3. Keep shorting baby
4. Short and short and buy it all back low
If you can enlighten to it you'll do pretty well. If you can't, you'll lose a lot of your future, won't you?
Comment:
If you decide to gamble on going long on this "pullback" I can only say you must use a stop that is exactly below the low.
And if/when it dumps it may blow out the bottom with a $30 1 minute candle.
And if/when it dumps it may blow out the bottom with a $30 1 minute candle.
Comment:
The MM saved the good part for the Monday session.
And it was certainly a bit of a throw off.
With four trading days left in the month, I have to question whether there will really be a second run lower since price action has not been truly bearish thus far.
And it was certainly a bit of a throw off.
With four trading days left in the month, I have to question whether there will really be a second run lower since price action has not been truly bearish thus far.
Comment:
Big divergence on ETH CME Futures compared to Binance futures:
CME where a lower high was made
Binance where a higher high was made.
Also, the $15 premium on futures is down to $3 now.
Target is now sub-$1,800.
CME where a lower high was made
Binance where a higher high was made.
Also, the $15 premium on futures is down to $3 now.
Target is now sub-$1,800.
Comment:
With the weirdly timed dump outs and short term price action following today's move, I now believe the intention is to take out the tops around $1,950, and then they'll dump it, and dump it again.
Don't be the sloth.
Don't be the sloth.
Comment:
Bitcoin has been trading with a notable, although sometimes sporadic, negative covariance to the SPX and Nasdaq:
I anticipate the indexes to slide towards 14,500 and 4,280 before month end.
Will we finally see the ETH/BTC tops?
I anticipate the indexes to slide towards 14,500 and 4,280 before month end.
Will we finally see the ETH/BTC tops?
Comment:
This ETH bounce in the gap is mirrored by a lower low on BTC.
Would mean the target is at least $1,950 if upside movement continues.
Would mean the target is at least $1,950 if upside movement continues.
Comment:
I noted in my call on Bitcoin, which you find in my history, that there's a divergence in where Ethereum Binance futures and Ethereum CME futures dumped to.
Right now, I believe what the target is is just over the $1,880 wick.
And possibly that's all she has.
Right now, I believe what the target is is just over the $1,880 wick.
And possibly that's all she has.
Comment:
With price action as it unfolds, I believe we'll actually see $1,950+
I believe this double bottom won't even really be retested and we'll exceed $1,950 today or tomorrow.
I believe this double bottom won't even really be retested and we'll exceed $1,950 today or tomorrow.
Comment:
Option #2 to the above is it re-sweeps $1,900, fails, and then we're going to new lows.
Comment:
If you examine my BTC call, I believe the markets have peaked for now. Right now, ETH looks like it's setting up to make a bearish pivot next week.
However, I am also expecting another run over $1,950. Perhaps it will flirt with $2,000 just to kill people.
However, I am also expecting another run over $1,950. Perhaps it will flirt with $2,000 just to kill people.
Comment:
The Ex-Date for 66 cent Dividends on the BITO ETF just happens to be tomorrow morning.
That's a pretty fat div on a ~$20 stock.
Then, everyone is free to sell.
That's a pretty fat div on a ~$20 stock.
Then, everyone is free to sell.
Comment:
ETH CME futures officially takes the May high
My call is that between now and when CME futures opens tomorrow, Eth is going to print $1,790 and shake out (liquidate) all the early longs.
Right here:
A "retest of the trendline it found support omg."