You may have heard about the Ethereum Merge, which is happening literally within hours of this post. I’m not an expert (not even close), but I found this article to be a good thumbnail as to what it’s all about.
I am, however, a chartist, and this chartist makes the same point he’s made repeatedly – – – break that intermediate-term trendline, and it’s bombs away. Break the dashed line also, and it’s mega-bombs away.
What prompted me to write this post, however, wasn’t Ethereum – – it’s Bitcoin. Specifically, I took a close look at the Fibonacci Retracement from the low of 12/15/2018 to the lifetime high of 11/10/2021, and the retracement levels that are presented show remarkable performance with respect to their support and resistance roles.
What was especially interesting to me is that we’re presenting teetering on the lowest level. In other words, beneath here, it’s nothing but a VOID. Thus, break 18700, and things could get awfully interesting across ALL asset classes.
One thing is for sure, however. No matter what, we will continue to bask in the unalloyed genius of Michael Saylor. I went to fetch his latest tweet, and I was delighted at its eloquence. Brace yourselves:
