$ETH is the line I care about today. Bitcoin dropped 4.5% over 24h, and the Fear and Greed Index printed 20, extreme fear, down from 28 yesterday. Breadth confirms it: 182 contracts up against 367 down, median move -1.00%. Dry powder is shrinking, USDT supply fell 161.56M in 1 day and 2.03B in 7 days, USDC fell 451.77M.
Here is my problem with this dip. ETH funding is only +0.009% per 8h while the long/short ratio sits at 3.47, so the crowd is long while sentiment breaks. My call: ETH takes 1900 before any repair. Above 2062.45 I am wrong. Key level today: 1900.
Here is my problem with this dip. ETH funding is only +0.009% per 8h while the long/short ratio sits at 3.47, so the crowd is long while sentiment breaks. My call: ETH takes 1900 before any repair. Above 2062.45 I am wrong. Key level today: 1900.