08/30 - Short term Ether positioning

Do repost and rate:

Epistemological status: MFW US gets closer to November 2nd

Mood: DeFi

Ether positioning through mid-October, not financial advice:

  • ~5% parabolic move to $680/$800 heavy resistance area, unlikely, needs a BTC run + good news from the ETH2.0 phase testnet + continued DeFi buzz
  • ~10% rapid appreciation to $550-700$ - no bad news, continued macro flight from fiat and steady BTC
  • ~45% steady upward drift establishing $405-$420 as support and $500-$550 as new resistance
  • ~25% continued ranging between $375/$440 in existing channel
  • ~10% re-tracement to $320/$360 area due to macro risk-off & bad testnet fallout
  • ~5% trip to goblin-town, AKA major $250 support area--unlikely, would require macro risk-off to be compounded by severe BTC dumps 

Bias remains positive, but leverage continues to strike as a bad move.

Maintain all liquidation points under $250

If August monthly closes > $450, we have a solid bull confirmation & possible rotations from BTC into ETH.

We out here, folks. The fact that you're reading this means you're already winning. Don't mess up.

Regulation and Society adoption

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