Img src: Ethereum
About perhaps 20 hours ago, Both Bitcoin and Ethereum has broken down its trend line. On my YouTube feed, many videos about the breakdown and fear promotion in a way. I stuck to my guns and just decided by having my own game plan. I have two trend lines for Ethereum. It broke the first support line which was at around USD 584 and it went down further. I was prepared.
On the MACD, it was in an extreme oversold territory. The 1 day chart was at an overbought region and signs of a pullback was imminent. However, from my own observation throughout the months, the 4hour price change has the higher accuracy. Currently it has bounced off the support, which is around 547 USD. This is my own trend line. It won't look perfect like those you see in many YouTube channels.
I guess, many investors would have bet on a short. Somehow getting liquidated. If Bitcoin moves sideways, it could be time for altcoins to outperform. I don't really know if Ethereum would one day flip Bitcoin but I think the best thing to do is to have both. We should never get married to these assets. A few hours ago, I saw Ethereum turning green first before Bitcoin does. Is it a repeat of what has happened months ago? More about why this is so in the next post.
I've been analyzing only Bitcoin and Ethereum for the couple of years and every single day, charts become something that I usually think of when I eat, sleep or even go exercise. One day, I said to myself, I want to be really really good at this.
Img src: Tradingview.com
This is my own Bitcoin chart and it has also bounced off the support. Not a perfect support. My support was laid out that way when I connected the various earlier supports. Currently, we are having higher highs. Bull market is here. Ethereum has barely even performed. It may be lagging a couple of weeks behind but when it does moon, it will be mind blowing.
22 MILLION ETH STAKED EVERY SINGLE DAY
According to the article above, 22 million Eth is staked every single day. There are currently 11048 nodes around the world.
https://www.ethernodes.org/ - Check the stats for the nodes here.
https://www.stakingrewards.com/earn/ethereum-2-0 - My favourite site to check out how many Ethereums have been staked and currently, it is more than 246%. Earlier before this target was reached, I saw many articles that wrote with titles of "Why it won't reach it target" and many negative articles.
It could be that Ethereum reaching an All time high in the first quarter of next year. If indeed the alt seasons is here, Bitcoin is going to be moving side ways for a while and then slowly the giant would attack with such a force that we could have our jaws dropped.
Do follow my page if you find my what I write helpful. I do check out other alt coins but to a lesser extend.
@luueetang