The Bois are Back?

After the classic Bart pattern highlighted in Wednesday’s issue, Alameda Research started to talk about the bottom is in and they were back to doing what they do best: buying crypto. So the bear market is over?

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Let’s not get ahead of ourselves, with the weekend here and lower volume could see some of the price inefficiencies of this pump being filled with a sudden drop. But the bears have struggled hard to sink the price much lower than 29k, so my thoughts are if we now see 30k becoming a rock-solid support then we will get out of this crab market soon enough. Meanwhile, the ETHBTC weekly chart looks very bullish.

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It keeps printing higher lows and is above a traditional weekly resistance/support zone. Might help keep ETH over $2,000 this weekend? Would be nice to see.

PSA: Recommend you don’t interact with any unknown airdrop tokens, some sort of exploit/hack happening where users approve a token to trade it on Uniswap and then find their wallet drained. Though it might just be bad coding by RUNE’s erc20 implementation.

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