Ethereum is done accumulating.

Ethereum is done accumulating.

By MadMaxx | Psycho Crypto | 23 May 2020


With everyone so focused on Bitcoin recently, it seems that no one remembered Bitcoin's cousin: Ethereum.

Throughout Pizza day, through the halving, throughout the ride to 10k, throughout the fall to 8.6k, Ethereum hasn't really moved much. And no one noticed.

Usually, Ethereum either led or lagged Bitcoin in the trend game. At times they move together. At times Bitcoin dumps Ethereum. In extremely rare cases, Ethereum dumped bitcoin very slightly. At times also, they moved together. But now, Bitcoin has bounced to the moon and back, but Ethereum has been in a rather tight range. The accumulation is done.

In the life of every asset, there are three stages:

  • The accumulation
  • The uptrend
  • The heavy downtrend back to consolidation

Consolidation represents the time when the weak investors and part time traders either sell for a loss or break even because they watched the uptrend, got too greedy,and waited for price to return to their buy spot.

It also represents the time when smart investors buy and sell at predetermined points, basically collecting free money to double on the run up of the asset. The asset may range for 4-6 weeks or less, and between two predetermined points. Smart investors buy and sell at those points, collecting "free money" basically, and when the asset eventually shoots up, they sell their free money for even more free money.

 

Ethereum has finished this cycle. The March crash was all it needed to dissociate from Bitcoin. It now has its own trend, and the smart investors are done accumulating free Ethereum. They want to break through all it's resistances, and soon, that would be the case.

Watch out guys. This is the calm before the storm that is alt season. Anticipate.

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MadMaxx
MadMaxx

In the eternal quest for crypto fulfilment. I'm an obese frog on the internet, what I say most definitely isn't financial advice.


Psycho Crypto
Psycho Crypto

Fun experiments with crypto!

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