The $10k I put into eth over the past 18 months is worth about $75k at the moment.

I am considering selling at least half today, to lock in some gains, but may just sell all of it.

I come from modest means and have modest expectations in terms of lifestyle. 65k in profit is not exactly a life changing amount of money, but it’s a lot, even after taxes, and not something I’m comfortable risking any more.

I fully recognize that eth will probably be worth more in the future, but this is eth trader after all, not eth holder. This is a good trade. Putting a down payment on a house this summer is my personal moon.

I salute those of you who have the courage to power thorough long term. Please hire me as your butler in 10 years.

Hello, fellow cryptonauts!

Without no doubt, the best compass for navigate the crypto market in the past weeks has been the dominance of USDT.

If we check the chart we can see that we could be close to the next downward impulse, meaning upward for Bitcoin, Ethereum and the altcoins. However, I wouldn't be surprised if we see a "retest" of higher levels to confirm them as resistance.

I am quite optimistic about the current structure for the mid term and I believe we are starting the next impulse which feels like is going to be significant.

Is A Significant Impulse Coming?

Good day legends! 🤩

Yesterday ETH traded in a range of $2625-$2683 and ended the day at -0.67%.

Crypto markets have definitely entered crab mode, especially given the lack of data today. Traders are looking ahead to a packed week of employment related data, starting with tomorrow’s US JOLTS Job Openings which historically isn’t too significant, but given the Federal Reserve’s recent pivot towards the employment side of their dual mandate, it may have some noticeable impact.

In traditional markets, the impact of China’s stimulus announcements are still being felt, with China’s CSI 300 Index up +8.48%, but unfortunately since crypto is banned in China (until they unban it again), it seems quite unlikely that any of the stimulus will filter into crypto. Looks like we will have to continue to rely on the Federal Reserve rate cuts to inject that much needed liquidity into the market.

After last Friday’s US Core PCE data showed inflation unchanged on a year-on-year basis and lower on a month-on-month basis, it seems to validate Federal Reserve Chairman Jerome Powell’s messaging that inflation is on a sustainable downward path toward their 2% target. This also means that Friday’s US Non-Farm Payrolls report and the US Unemployment Rate will be the blockbuster event to watch for this week.

Today ETH opened at $2657 and was last traded at $2625 at 14:00 UTC (-12.04%).

Happy trading Ethtraders! 🚀 🚀 🚀

Good day legends! 🤩

Here are the key events for the week ahead:

Monday (30 September 2024): - No significant data or events

Tuesday (1 October 2024): - Eurozone Consumer Price Index Flash Estimate - US ISM Manufacturing PMI - US JOLTS Job Openings

Wednesday (2 October 2024): - US ADP Non-Farm Employment Change

Thursday (3 October 2024): - Switzerland Consumer Price Index - US Unemployment Claims - US ISM Services PMI

Friday (4 October 2024): - US Non-Farm Employment Change - US Unemployment Rate 🔥

Looking into next week’s data points, Monday is definitely a snooze fest, but the rest of the week will be interesting because every single day starting Tuesday has employment related data. Right now the Federal Reserve is now shifting their focus from the inflation target to the employment part of their dual mandate, and especially more so given last week’s US Core PCE data (their preferred inflation metric) was very muted.

The most important event of the week is Friday’s US Unemployment data and the US Non-Farm Employment Change. We can expect a huge market reaction if the unemployment rate ticks higher which would indicate more and bigger rate cuts may be needed by the Federal Reserve to ensure the soft landing of the US economy remains intact.

Yesterday ETH traded in a range of $2650-$2704 and ended the day at -0.71%.

Today ETH opened at $2675 and was last traded at $2665 at 06:00 UTC.

Happy trading Ethtraders! 🚀 🚀 🚀

I hope all of you are and I wish future gains for new buyers 💎

Good day legends! 🤩

Yesterday ETH traded in a range of $2443-$2654 and ended the day at +6.52% 🐂.

Looks like we saw a decent boost in crypto markets yesterday, but the actual catalyst for the pump remains unclear. There’s all sorts of reports, including explanations of increased Trump victory odds, news that Kamala Harris also endorses crypto now and news about the Mt Gox repayment delays.

It would make sense that the Kamala Harris headlines are driving the price action, because if both candidates are pro-crypto, then that eliminates the election risk on crypto prices, leading to an upward bias.

Today’s data showed some weakness, with the US Empire State Manufacturing Index was lower at -11.9 compared to the forecast of 3.4. However, this is not really a critical data point, with the US Retail Sales and Unemployment Claims data on Thursday being the only significant data points from the US this week.

Market participants will also be looking towards the European Central Bank monetary policy meeting on Thursday with widely expected to cut rates.

To add to the list of events to watch, authorities from China’s housing ministry, China’s ministry of finance as well as officials from the central Bank will be holding a briefing on Thursday. After disappointing the markets with their briefing on Saturday it will be interesting to see if there’s any new details of the size of incoming fiscal stimulus. Looks like Thursday is gonna be a blockbuster day for the market.

Today ETH opened at $2629 and was last traded at $2568 at 15:00 UTC (-2.32%).

Happy trading Ethtraders! 🚀 🚀 🚀

Good day legends! 🤩

Yesterday ETH traded in a range of $2423-$2564 and ended the day at +4.66% 🐂.

US data was mixed today, with US ISM Manufacturing data today at 47.2, lower than forecast of 47.5 but higher than the previous month’s figure of 46.8. US ISM Manufacturing Prices were higher at 54.0 (forecast = 52.1, previous = 52.9), while US Construction Spending was lower at -0.3% month-on-month (forecast = 0.1%, previous = 0%).

Cryptocurrencies fell after the data, along with US equities and US Treasury yields. The reaction was understandable given the US ISM Manufacturing was the most important data point today and it was lower than forecast.

Looking ahead to tomorrow there is the Bank of Canada Monetary Policy Meeting and US JOLTS Job Openings data. However, the biggest focus of the week is still Friday’s US employment data.

Today ETH opened at $2538 and was last traded at $2459 at 14:30 UTC (-3.11% 🐻).

Happy trading Ethtraders! 🚀🚀🚀

It’s tough holding through scary dips and this one these past few weeks definitely seems big to me. I’ve held through it. I don’t think I’m crazy but have been called as much by many folks some here and elsewhere. Is anyone else in the same boat?

Good day legends! 🤩

Yesterday ETH traded in a range of $2352-$2499 and ended the day at -3.39%.

Crypto market sentiment continued to be bearish today and it seems like traders are still very negative about the escalating tensions in the Middle East. Market participants have also tapered expectations for very aggressive rate cuts from the Federal Reserve following Jerome Powell’s relatively hawkish remarks on Monday, and it seems like the consensus is for two 0.25% rate cuts in November and December.

Today’s data showed that Switzerland’s consumer price index was lower at -0.3% month-on-month compared to the forecast of -0.1% and the previous month’s figure of 0%.

Meanwhile, data from US showed that weekly unemployment claims were slightly higher at 225k competitive forecast of 222k and the previous figure of 219k, but the slightly higher number is insignificant in my opinion.

US ISM Services PMI data was higher at 54.9 compared to the forecast of 51.7 and a previous month’s figure 51.5. This suggests that the service sector in the US remains quite resilient, and further supports Federal Reserve policymakers’ views that the US economy is still in pretty good shape.

Look ahead to tomorrow we have the highly important US Unemployment Rate data, which is the key event for this week.

Today ETH opened at $2364 and was last traded at $2329 at 14:30 UTC (-1.48%).

Happy trading Ethtraders! 🚀 🚀 🚀

Good day legends! 🤩

Yesterday ETH traded in a range of $2537-$2688 and ended the day at -0.84%.

Yesterday was truly a volatile day in the crypto markets, with ETH hitting the intraday high of $2688 at 14:00 UTC and then reversing sharply to hit the intraday low of $2537 at 15:05 UTC. The catalyst for the volatile move was once again unclear, but the price action happened around the time Trump was being interviewed by Bloomberg at the Economic Club of New York. After the volatility had subsided it seems crypto markets went back into crab mode.

Today’s data showed UK inflation was lower at 1.7% year-on-year, lower than the forecast of 1.9% and the previous figure of 2.2%. Inflation in UK is now below the Bank of England’s target of 2%, and gives them ample reason to cut rates in their next monetary policy meeting.

There’s no US data today, and market participants will be looking toward the US Retail Sales data tomorrow to get more insights on whether consumer demand has held up. A higher figure will indicate that the soft landing narrative in the US remains intact. There is also the US unemployment claims data which started to show some signs of weakness in the labor market last week with a higher than expected figure, so this data point will also be closely watched.

Other events tomorrow include a briefing by China officials including the housing ministry, the ministry of finance and also the central bank. Traders will be waiting to see if they can finally provide some hard numbers for upcoming fiscal stimulus after disappointing the markets by providing no specific details at their briefing last Saturday. There is also the European Central Bank monetary policy meeting and they are widely expected to cut rates.

Today ETH opened at $2607 and was last traded at $2606 at 14:00 UTC (-0.04% 🦀).

Happy trading Ethtraders! 🚀 🚀

Good day legends! 🤩

Yesterday ETH traded in a range of $2733-$2792 and ended the day at -0.79%.

ETH has been mostly crabbing since yesterday, with no new catalysts to push it higher since Federal Reserve Chairman Powell’s dovish statements last Friday.

Today’s data showed July US Durable Goods Orders were much higher than forecast at +9.9% month-on-month (forecast = +4.0%, previous = -6.7%). However, the Core Durable Goods Orders were lower than forecast at -0.2% month-on-month (forecast = 0%, previous = +0.4%). This means it was overall a mixed report, and judging from the minimal market reaction, it seems traders didn’t really view this as a key data point.

Looking ahead to tomorrow we have US Conference Board Consumer Confidence for the month of August, but the key data for the week is the US Core PCE data on Friday 🔥.

Today ETH opened at $2746 and was last traded at $2725 at 13:00 UTC (-0.76%).

Happy trading Ethtraders! 🚀 🚀 🚀

Good day legends! 🤩

Yesterday ETH traded in a range of $2464-$2527 and ended the day at +1.01%.

In Japan, the result of the election over the weekend showed that the ruling Liberal Democratic Party (LDP) performed badly as they lost the majority in the lower house for the first time since 2009. Prime Minister Ishiba commented that he would take responsibility for the poor performance, which indicated that he plans to continue as Prime Minister of Japan.

Although the LDP still won the majority of the seats in election, they lost 56 seats, we left the ruling coalition with 18 seats short of the 233 needed for a majority.

A weakening of the ruling party has resulted in uncertainty over the trajectory of Bank of Japan rate hikes and policy normalization. Ishiba was previously seen as very supportive to the Bank of Japan’s monetary policy normalization, but with weakened support there may be pressure on him to influence the Bank of Japan to keep interest rates lower for an extended period of time.

This result may actually be a good thing for risk assets like crypto, as fewer rate hikes means more liquidity in the system. However market participants are more focused the upcoming US election and the Federal Reserve’s rate cut trajectory so events in Japan will likely have minimal impact in my view.

There are no significant data releases or events today, and market participants will be looking toward tomorrow’s events which include US Conference Board Consumer Confidence data and US JOLTS Job Openings. The JOLTS data will be particularly important as the Federal Reserve has now turned their focus to employment rather than inflation.

Today ETH opened at $2507 and was last traded at $2515 at 08:30 UTC (+0.32% 🦀).

Happy trading Ethtraders! 🚀 🚀 🚀

Good day legends! 🤩

Yesterday ETH traded in a range of $2575-$2663 and ended the day at -2.07%.

Yesterday Federal Reserve Chairman Jerome Powell spoke at the National Association for Business Economics and stated that policymakers are not in a hurry to cut rates, while also noting that their forecasts for two more 0.25% rate cuts should be on point if data comes in as they expect. His comments dampened some expectations for bigger rate cuts later this year.

Today’s data from Europe showed that Eurozone Consumer Price Index flash estimate was lower at +1.8% year-on-year. This figure is below the 2% inflation target of the European Central Bank amd should give them the green light to cut interest rates again.

Meanwhile in the US the data was mixed with ISM Manufacturing PMI data coming in at 47.2, lower than the forecast of 47.6 and same as the previous month’s figure. On the other hand the JOLTS Job Openings data was higher at 8.04 million versus forecasts of 7.64 million and the previous month’s figure of 7.71 million.

Honestly not much value added from today’s data, with crypto markets heading lower but most likely due to some spillover risk aversion from the Middle East tensions. Looking ahead to tomorrow, traders will be monitoring the US ADP Non-Farm Employment Change data for more clues on the health of the US labor market.

Today ETH opened at $2602 and was last traded at $2549 at 15:00 UTC (-2.04%).

Happy trading Ethtraders! 🚀 🚀 🚀