“Thinking machine supercomputer”
~ Mr DNA Jurassic Park 1995
I hate clickbait bullshit!!!
TL;DR
Ethereum is now a long.
This is the first of many crypto posts from someone who made money in crypto but really doesn’t care all that much about crypto.
Subscribe to follow my journey of inevitability into ayahuasca retreats, lambos and wearing sliders in inappropriate places.
Joking aside (the jokes are never put aside) I don’t care they are just tickers. Sometimes we are long sometimes we are not. Thats it. Buy Strength Sell Weakness.
Anyway..
This is a chart of Ethereum with funny lines on it.
Those funny lines come from this data extraction.
These data points were generated by a trigger. The last time this triggered was September 6th 2024
Based on the historical outcome of this trigger it has not performed well given that we are 46 days into the 60 days that this backtest captures.
Next we have Signal Strength. This is a measure of 1/3/6 month strength.
We are coming from a very depressed level across all timeframes. 1 month being the shortest term is of course the fastest to react.
This period is very similar to Halloween last year through to March 2024.
This is the same period on the price chart.
ETH as shown here via futures has finally gone long.
Admittedly so far it is because looking backwards ETH looks like a huge stinking turd. So really it looks kinda just a little bit like a polished turd right now.
Here is the kicker and no there is no crypto bro rocket ship nonsense.
Trend followers have been doing OK.
Trend followers have more $$$ in their back pockets than the last time they got to buy ETH.
They, all else equal, will be buyers soon.
I am an idiot with a laptop this is not financial advice!!
You look at crypto equities too or does that fall under your other tracker? Thanks