ridethepig | EOS Market Commentary 2020.09.08📌 Buyers have a good position here, because it is unlikely that sellers can manage to force a decision at the stops below 2.47x. But this somewhat clumsy setup creates some difficulties of its own.
The right play here is to ride the pig in BTC which will expose the topside across ETH, EOS, LTC and a few other major cryptos still holding on. The struggle to make this a more serious breakup towards $6 and $9 is possible if we see a momentum breakup.
The difficult task of finding attractive private assets is coming from populist manoeuvres. There is no comfortable way to play end game in the economic cycle, though I am continuing to long scarcity as the dollar is flushed. For those looking at the long-term outlook in Cryptos, BTC represents the entire sector and is opening up the attack on both sides.
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