$ETH Has just been chopping everyone up as it has been consolidating in the middle of the range around this $4.3K-$4.5K area. Still not a place for me to take any trade with the lack of momentum and especially at the start of a new week & month. I think a retest of the range lows and 4H 200MA/EMA trend would be an interesting spot. Alternatively, consolidation above $5K+ would be bullish and should lead to higher into price discovery.
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Long-term perspective: The key to the cryptocurrency cycle may not only lie in the flow of retail or institutional funds, but also in the structural health of corporate cryptocurrency coffers. This is a fragile pillar, and if it breaks, demand will turn into supply.
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The Morning Minute (8.19) Powered by @yeet ⏰Top News: -Crypto majors are slightly green after volatile day; BTC at $115,600 -Tom Lee buys $1.7B in ETH in the past week, becomes 2nd largest DAT -Tether signs on former White House crypto director Bo Hines as advisor -Chamath launches $250M SPAC, includes DeFi as 1 of 4 pillars -LIGHT jumps 50% to a new ATH as revenue & buybacks increase 🌎 Macro Crypto and Memes
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