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$ETH #ETHETFS #ETH
Ethereum holders have withdrawn more than 224,000 ETH from centralized exchanges in the last 24 hours, marking the largest outflow in nearly two years. This indicates that holders are confident in the long-term prospects of the coin and do not intend to sell at this time.
Hedge funds have also increased short positions by 40% over the week, which could lead to a significant short squeeze and a breakout from consolidation (above 4k), driven by the rise of Bitcoin.
Currently, we are stuck in the range of 2k-4k; the last time we were in a sideways trend (consolidation) for a long time, we grew by 100%. After a strong rise, we find ourselves in a sideways trend again, and upon exiting it, a rise of about 100% is also expected. I anticipate a price of 7k, after which I will gradually close positions.
ETH remains strong in this market, and the factors I mentioned also signal good growth; the bull run has not ended, it is just beginning)
You can enter now or wait for a breakout from the sideways trend followed by a subsequent retest.
Wishing everyone profit!
Ethereum holders have withdrawn more than 224,000 ETH from centralized exchanges in the last 24 hours, marking the largest outflow in nearly two years. This indicates that holders are confident in the long-term prospects of the coin and do not intend to sell at this time.
Hedge funds have also increased short positions by 40% over the week, which could lead to a significant short squeeze and a breakout from consolidation (above 4k), driven by the rise of Bitcoin.
Currently, we are stuck in the range of 2k-4k; the last time we were in a sideways trend (consolidation) for a long time, we grew by 100%. After a strong rise, we find ourselves in a sideways trend again, and upon exiting it, a rise of about 100% is also expected. I anticipate a price of 7k, after which I will gradually close positions.
ETH remains strong in this market, and the factors I mentioned also signal good growth; the bull run has not ended, it is just beginning)
You can enter now or wait for a breakout from the sideways trend followed by a subsequent retest.
Wishing everyone profit!
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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