$922M Locked In Defi - Will Add Using ethbtc on ABC Correction
Expecting ABC correction near $200 maybe to $165. I've already built most of my long term multi year position so I feel like trading in an out of little patterns on the day chart could be considered over trading that might result in getting bumped out of the market right before a huge bull run to new highs.
So I am not planning to sell at $200 but instead am just going to stack on to my eth position by selling btc and buying eth when eth is at the green box. The ethbtc ratio should be favorable according to the attached chart then. Usually if btc moves down against usd then eth moves even farther so that combo will put ethbtc in a good position for a stacking trade.
I have my eyes on btc going to 20k or maybe 50k next cycle and eth could go several multiples of its old high depending on how successful defi is at locking up eth.
Right now it's a record 922M of eth locked in defi and the rate is accelerating upward. This is very likely to put upward pressure on eth and eth is really the best coin to benefit from defi more than any other.
I'm just sitting back and watching the trade work, mainly the reason I do these tradingview charts right now is to remind myself not to trade smaller timeframes with anything other than crypto dust and to let my multiyear positions start to build a base and eventually go parabolic.
So I am not planning to sell at $200 but instead am just going to stack on to my eth position by selling btc and buying eth when eth is at the green box. The ethbtc ratio should be favorable according to the attached chart then. Usually if btc moves down against usd then eth moves even farther so that combo will put ethbtc in a good position for a stacking trade.
I have my eyes on btc going to 20k or maybe 50k next cycle and eth could go several multiples of its old high depending on how successful defi is at locking up eth.
Right now it's a record 922M of eth locked in defi and the rate is accelerating upward. This is very likely to put upward pressure on eth and eth is really the best coin to benefit from defi more than any other.
I'm just sitting back and watching the trade work, mainly the reason I do these tradingview charts right now is to remind myself not to trade smaller timeframes with anything other than crypto dust and to let my multiyear positions start to build a base and eventually go parabolic.
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