BTC, ETH, SOL, alts, and most assets like to swing up and down moving from liquidity zone to liquidity zone. Whales need price to come to these areas of interest in order for them to put on their large position sizes without getting clobbered from slippage and large spreads. They take out the areas where large orders sit then price reverses or finds support/...
BINANCE:ETHUSDT ETH is definitely the weakest of the 3 majors (BTC, ETH, SOL) However, I am seeing way too much bearishness on ETH, which is warranted due to its piss poor price action, but that does not mean it is going to teleport down to sub 2k. Signs of over bearishness: - OI divergence and finding support at previous areas (price is lower but OI is...
Global liquidity leads all. The winners and main beneficiaries of increased liquidity have been and will continue to be technology and crypto. Do not fight the tape. Halving years and post halving years coinciding with the US presidential election and the debt refinance cycle for the government is a breeding ground for increased liquidity on the horizon....