DiveInDefi
BTC is shaky for sure.
the more u hit a support like that and !not! break it, the less likely you will break it.
Also, the more often you hit it, the more likely it breaks.
You will ask, that is weird? Yes.
There is like a certain amount that is good for breaking, 4-5 as we learned here already. If a resistance or support survives this amount, it more likely gets confirmed and holds
Also, the more often you hit it, the more likely it breaks.
You will ask, that is weird? Yes.
There is like a certain amount that is good for breaking, 4-5 as we learned here already. If a resistance or support survives this amount, it more likely gets confirmed and holds
DiveInDefi
the more u hit a support like that and !not! break it, the less likely you will break it. Also, the more often you hit it, the more likely it breaks. You will ask, that is weird? Yes. There is like a certain amount that is good for breaking, 4-5 as we learned…
like this. 5th attempt failed. This is bullish. This is why u be extra cautious on 4th and 5th attempt. Now I would be more confident that we bottomed
DiveInDefi
this is also very realistic
consequently I entered a long again on ETH
https://x.com/intern/status/1745815840690237594?s
Larry fink, the probably mightiest man on earth after Jerome Powell finally understood Crypto!
Larry fink, the probably mightiest man on earth after Jerome Powell finally understood Crypto!
X (formerly Twitter)
intern (@intern) on X
it sounds like Larry Fink got racked with his absolute boys last week, had an epiphany about crypto and is now fully entering the crypto rabbit hole
K
just realized eth might have one last leg down
Damn this was right. Got fooled into BTC which literally bottomed (at least short-term) But ETh absolutely getting wrecked right now. Volume is starting to rise. We should find the true bottom soon
Another high volume 2cnd day is absolutely bullish. Most importantly, we need high volume for the next weeks.
Forwarded from Watcher Guru
DiveInDefi
Eth should find its bottom around here
against BTC. not saying the sell off is over completely. It could be
DiveInDefi
Eth should find its bottom around here
So this was it on ETH (likely)
I made a learning cause this trade was costly: Gotta make sure to check ETH/BTC. I had ETH and BTC open simultaneously. Looked phishy when BTC pumped and found its LTF bottom but ETH started to sell off. I had a disbelief.
Well, I was feeling a 5th wave down was left and I should have listned to that and not blindly trust BTC PA for ETH. Especially in times when ETH/BTC is so volatile.
I made a learning cause this trade was costly: Gotta make sure to check ETH/BTC. I had ETH and BTC open simultaneously. Looked phishy when BTC pumped and found its LTF bottom but ETH started to sell off. I had a disbelief.
Well, I was feeling a 5th wave down was left and I should have listned to that and not blindly trust BTC PA for ETH. Especially in times when ETH/BTC is so volatile.
Ok guys. This is a little more than just a sell the news.
It seems like there is an issue with GBTC's holding fee of 2%/year. All the other ETFs have significantly lower fees. So what is happening, people that have held GBTC previously (this was traded before), are now dumping their GBTC stocks to cheaper ones like the one of Black Rock and others, that only have 0.25% of fee.
This forces GBTC to sell their BTC on the market.
BlackRock and others easily buy them back a little bit later for cheaper.
As an ETF trade usually isn't settled (BTC bought or sold on the spot market) the second someone buys a share, all of those volumes are delayed.
GBTC holds $35 billion in BTC (35.000.000.000). In comparison, other ETFs only bough roughly 200 million (200.000.000) in advance to the ETFs.
This is causing unnatual selling pressure on the market on top of selling the news.
It seems like there is an issue with GBTC's holding fee of 2%/year. All the other ETFs have significantly lower fees. So what is happening, people that have held GBTC previously (this was traded before), are now dumping their GBTC stocks to cheaper ones like the one of Black Rock and others, that only have 0.25% of fee.
This forces GBTC to sell their BTC on the market.
BlackRock and others easily buy them back a little bit later for cheaper.
As an ETF trade usually isn't settled (BTC bought or sold on the spot market) the second someone buys a share, all of those volumes are delayed.
GBTC holds $35 billion in BTC (35.000.000.000). In comparison, other ETFs only bough roughly 200 million (200.000.000) in advance to the ETFs.
This is causing unnatual selling pressure on the market on top of selling the news.
Forwarded from Moonbags Markets