Have you noticed everyone is cheering BitMine hitting 6 million $ETH like it is a victory lap instead of a supply event?
The pain is familiar. You see the headline, you buy the rip, then you sit underwater while the company that caused the move is still accumulating below your average.
This is not a $SOL narrative pump or another $LINK partnership cycle. Those live and die on attention. Six million ETH in a treasury is coins that are not coming back to the order book anytime soon. With Fear and Greed already at 67, the crowd will treat this as permission to chase. That is usually when the next shakeout starts.
The actual play is boring and it works. Do not lift offers on the announcement candle. Map the range from before the news hit. Wait for a retest or a failed breakout, then scale in with a hard stop. If corporate buying is the new bid under ETH, you want to buy the dip against that bid, not the first spike.
Where do you think this goes once the next treasury print hits the tape?
#BitMineETHHoldingsTop6Million #SECChairWantsStockMarketsOnChain #EarningsSeason
The pain is familiar. You see the headline, you buy the rip, then you sit underwater while the company that caused the move is still accumulating below your average.
This is not a $SOL narrative pump or another $LINK partnership cycle. Those live and die on attention. Six million ETH in a treasury is coins that are not coming back to the order book anytime soon. With Fear and Greed already at 67, the crowd will treat this as permission to chase. That is usually when the next shakeout starts.
The actual play is boring and it works. Do not lift offers on the announcement candle. Map the range from before the news hit. Wait for a retest or a failed breakout, then scale in with a hard stop. If corporate buying is the new bid under ETH, you want to buy the dip against that bid, not the first spike.
Where do you think this goes once the next treasury print hits the tape?
#BitMineETHHoldingsTop6Million #SECChairWantsStockMarketsOnChain #EarningsSeason
