Long

Long Ethereum: 60 days to 6K at 4/20

Updated

I'm bullish on Ethereum.

It has been underperforming this cycle.

The mean reversion trade.

ETHBTC will be 0.0075

No TA. Just meme lines.

Note

Very comfy with spot Ethereum.
Staked the ETH into Lido to get 3.5% yield.

Trade active

Every dip is for buying more. ETH is undervalued compared to majors like Bitcoin and SOL. 30% of ETH is locked up and staked.

Note

I'm so bullish ETH because ETHBTC is also looking bullish.

ETH BTC diamond bottom and wykoff schematic 2

Note

🧲🧲🧲🧲🧲🧲

April 20, 2024
ETHBTC 0.075

Option 1:
6K Ethereum
80K Bitcoin

Option 2:
6666 Ethereum
88888 Bitcoin

Trade active

Zoom in on the 4H candles.

Everything going according to plan.

Trade active

Some consolidation and pull back is healthy to build structure.

Ethereum hasn't seen too many red since Janary.

Trade closed: stop reached

Made enough profit on this trade with leveraged. I'm not greedy. Got out of the trade.

Trade closed: target reached

I'm no permabull or permabear.

Sold everything on March 14 including my long term HODL positions.

Going forward I'm bearish: Cryptos and Stocks. Right now I only have my trading account looking for SHORT setups.

My thesis is a recession is coming Q2 2024 and I rather be early.

NoSecondBest

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