- It's been 41 days since the merge. If Ethereum was still on PoW, there would be up to 488,000 ETH that miners would be able to dump into the market. Instead, net issuance is only 1,300 ETH since merge and stakers can't sell any of that yet! This is absolutely bullish.
- Hit the like button if you didn't know that, because no one is talking about it!
- As you can see on the chart, there is an ascending parallel channel, which is really great for a potential profit target or a sell short opportunity. This channel is on the LOG scale, but you can also draw it on the linear scale. Both are valid, unfortunately.
- According to my Elliott Wave analysis, a previous extremely strong impulse wave gives us a great chance for a new swing high! Also, the correction has been clearly completed as a double ZigZag.
- The price is above the blue trendline and do not be fooled. This trendline is much longer than you can see on the chart, but I am unable to show you on this daily timeframe.
- It looks like November will be very bullish for the crypto market, which is really great, isn't it?
- Look at my ideas about Bitcoin and 0% inflation in the related section down below!
- For more analysis, hit "Like" and "Follow"!
