Everything feels just so much better when the sun is shining and when the charts are green. Yesterday a massive move on BTC started where it is reaching the top of the channel again. You know the channel right?
The one reaching from previous all time high as the top and the bottom around 58K. Bitcoin has been hoovering in there for a couple of weeks (like 10) already and this is a gigantic consolidation after all of the months up from previous year.
Nice one!
ETH
What was even more interesting to see if you are in alts like me was that Ethereum has finally waken up. It feel like it was the cursed coin over the last couple of weeks, down only and hardly any movement when BTC was doing a run.
But also yesterday it started making a massive move which I am not surprised about because of the rumours of the ETF 'having a significantly bigger chance of getting approved' .
You can also see it in the charts....ETH has surely broken out!
And that brings us to the balance of the ETH/BTC chart, where all of a sudden a big shift has occurred.
This might be very interesting for our altcoins as ofcourse ETH is the leader in all alts to midcaps. I have good hope that this might change the trend a bit which will somewhere lead to a trend up again.
If it will be enough for altseason and everything that comes with that Im not sure, but this is at least a good start.
I really hope this was the bottom for all alts as ETH made this gigantic move in just a day. The market seems ripe for momentum and needs just a swing and all triggers seem to start moving again.
I like this phase! The past two months of chop and soow bleed for alts has been boring if you are in spot, but on the other hand...no stress because you are in spot.
So yeah! Let's see what happens noe if the momentum continues. Im happy with the movement atleast!
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