I know Bitcoin and Ethereum have moved below the zones I gave you, so I did not want to stay silent until Sunday.
Nothing has changed for me, and this chart shows why. Tether dominance is performing the backtest I described in Issue #102: its weekly RSI is climbing back to test the broken trendline from underneath, just as it did in 2023, and you can see how that lines up with where the total crypto market cap is, pulling back into a higher low after breaking its downtrend and falling wedge.
I will dive into this much more on Sunday and what it means, but the takeaway is that the macro thesis is still very much to the upside. Yes, I did not time the exit and entry of my ETH ETF trades perfectly, and I am down on paper from the recent short-to-long flip. I am not overtrading, and I am letting those positions recover and move into profit as the inverse head and shoulders plays out as we have been expecting.
Much more Sunday.
