A short thread on why I think $ETH is long-term bullish.

Reason 1: Daily Market Structure. Notes in the chart.

Likes, RTs, comments and feedback are appreciated!
Reason 2: The Weekly Retest.

Speaks for itself, really. Notes in the chart.
Reason 3: Total Value Locked in Defi

Even though the DeFi hype has slowed down, more $ETH is being locked into DeFi. This is bullish for DeFi as a whole, but especially for ETH as the DeFi space runs on ETH.

Supply goes down, demand goes up. You do the math.
Reason 4: Institutions are buying.

Let& #39;s look at @Greyscale for example. They hold close to $1B in Ethereum and are adding more. Big players like them know what they& #39;re doing. I& #39;m not going to countertrade institutional money.
Reason 5: Ethereum 2.0

$ETH 2.0 is coming, with phase 0 launching this year. It will allow staking but on a one-way basis. Withdrawing your ETH won& #39;t be possible until phase 1.5 (2021) when the $ETH mainnet becomes a shard. #roadmap">https://ethereum.org/en/eth2/ #roadmap">https://ethereum.org/en/eth2/...
I& #39;m not sure how many people will actually stake considering they& #39;ll have to wait until phase 1.5 to get their ETH back, but any ETH being locked into the contract will decrease supply.

Once again, decreased supply while demand increases means a higher price.
Reason 6: Transaction Volume

Transaction volume recently hit an all-time high. This underlines that demand for $ETH is there, even with the network being congested.

ETH 2.0 will alleviate congestion and probably drive demand through the roof.
Summary & Disclaimer:

Both the chart and fundamentals point in the same direction, upwards.

This does not mean the price will simply go to the moon from here. I am not telling you to FOMO into Ethereum while we& #39;re at resistance.
In the coming months, there will be a big dip. A scary one, perhaps the one I pointed out in the weekly chart (Reason 2).

Those dips are where you want to buy. Have patience. This is a long-term outlook and a long-term game. You& #39;ll get there if you play your cards right.
Thanks for reading, I enjoyed doing the research and building the charts. Let me know your thoughts, and be sure to leave a like / RT on the top tweet if you like these type of things.

<3
You can follow @CryptoJelleNL.
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