ETH TAGGED 2500 THIS MORNING THEN HANDED IT STRAIGHT BACK
This is not how breakouts behave
This is how squeezes die
The tape today
$ETH printed 2519 on the day then slid to 2428
That is a round trip of about 90 dollars in one session
$BTC barely blinked which tells you this was an ETH only move
24 hour volume near 14 billion on a 297 billion market cap
Respectable flow but not the kind that holds a level
The bull take going around today
Round number reclaimed
Short squeeze confirmed
3000 next
Here is the part that take skips
Spot ETH ETFs bled about a billion dollars in October
That erased nearly all of September inflows
Year to date net is down to about 485 million
A rally with no institutional bid under it is borrowed time
The chart agrees with the flows
2500 lines up with the 20 day average and the break never closed above it
2479 is the line bulls must hold to keep any near term bias
2400 has been tested six sessions straight
Lose it and the map points at 2362 then 2292
My read
This morning was a short squeeze riding the midweek risk rally not a trend change
I am weighting the fakeout branch
But I will flip in public if $ETH takes out 2548 and holds it on rising spot volume
And Glamsterdam hits the Hoodi testnet on Oct 26 which gives bulls a real catalyst to trade
So pick your side
BREAKOUT or FAKEOUT
Give me your reason not just your vote
$ETH $BTC
#BinanceSquare #WriteToEarn #Crypto #Bitcoin #EthereumSurpasses$2500
This is not how breakouts behave
This is how squeezes die
The tape today
$ETH printed 2519 on the day then slid to 2428
That is a round trip of about 90 dollars in one session
$BTC barely blinked which tells you this was an ETH only move
24 hour volume near 14 billion on a 297 billion market cap
Respectable flow but not the kind that holds a level
The bull take going around today
Round number reclaimed
Short squeeze confirmed
3000 next
Here is the part that take skips
Spot ETH ETFs bled about a billion dollars in October
That erased nearly all of September inflows
Year to date net is down to about 485 million
A rally with no institutional bid under it is borrowed time
The chart agrees with the flows
2500 lines up with the 20 day average and the break never closed above it
2479 is the line bulls must hold to keep any near term bias
2400 has been tested six sessions straight
Lose it and the map points at 2362 then 2292
My read
This morning was a short squeeze riding the midweek risk rally not a trend change
I am weighting the fakeout branch
But I will flip in public if $ETH takes out 2548 and holds it on rising spot volume
And Glamsterdam hits the Hoodi testnet on Oct 26 which gives bulls a real catalyst to trade
So pick your side
BREAKOUT or FAKEOUT
Give me your reason not just your vote
$ETH $BTC
#BinanceSquare #WriteToEarn #Crypto #Bitcoin #EthereumSurpasses$2500