The big news to end of the week is Ethereum completing this monster base and breaking out to new all-time highs.
For me, I don’t care if we’re talking about Crude Oil Futures, Apple or Tesla shares, Treasury Bond ETFs, Gold, Silver, Crypto….
It doesn’t matter to me. It’s just letters and math. All that other stuff isn’t my problem.
The trade has been to be long ETHUSD if we’re above those former highs from 2018. It was that simple. The risk was very well-defined and the potential reward was exponentially greater. That’s what we look for. And so far, that strategy has worked well for us.
But now, while stocks are on holiday, Ethereum is really making a go of it:
For me, this is like buying Bitcoin when it broke above 20,000.
I like buying big bases. That works out well more often than not when you keep doing that over time.
Meanwhile, consolidations in price tend to resolve in the direction of the underlying trend. I believe that’s exactly what’s happening here:
Is $3600 next for Ethereum?
I believe it is.
Strategy Session Replay!
We had a tremendous Strategy Session last night and just got the replay up this morning. Check it out here if you missed it. We’ve also got the slide deck loaded up if you want to cruise through that.
Scope it out this weekend and let me know the most interesting thing you saw!