After weeks of hanging around $28,000, Bitcoin ($BTC) finally broke free to the upside, conquering its Fibonacci resistance level. This is an impressive move.
For crypto to really get cooking, Ethereum ($ETH) needs to push back the horizontal line I’ve drawn below.
I’ve often described crypto as “a solution in search of a problem.” Well, perhaps the “problem” has been found, and it has nothing to do with NFTs or buying stuff. It has to do with establishing a safe haven for cash assets. Because it seems to me that the best thing to happen to crypto in a long time is the bank breakdown and the newfound fear people have of just keeping their cash in a traditional institution.
