‍#ShareWeekly #BitmineAddsMoreETH $ETH

66 weeks in a row. That's the part of this story I can't ignore. Whatever the market does, whether ETH pumps, dumps or goes sideways, the buying doesn't stop. Another 15,112 ETH last week, holdings at about 6.016M ETH, roughly 4.9% of supply, and the 5% target is now very close. Here's how I actually read it as a futures trader.

What this really means (and what it doesn't)

Good side: a steady, non-emotional buyer taking ETH off the market every single week. That's supply leaving the float and not coming back unless something breaks. At this pace, 5% is only a week or two away, so I expect that milestone to become a headline soon.

The other side, and I want to be honest about it: 15,112 ETH is about $41M a week. That is a small slice of holdings, around 0.25%, and a small number compared to normal daily trading. So this is a slow, steady floor-builder, not a price-mover day to day. I don't buy ETH because of a weekly purchase announcement. I buy ETH when the chart gives me a clean level.

Also, big concentration cuts both ways. One holder with about 5% of supply is a strong long-term signal, but it's also something I keep in the back of my mind. I'm not worried about it today. I just don't treat it as risk-free.

The chart (4H)

ETH is sitting at about 2,703, right on top of the 50 and 99 MAs (both around 2,693). The 200 MA is lower, near 2,590. Resistance is 2,728, which has rejected price several times, and the purple support line is at 2,673. RSI is about 50 and MACD is flat. That's textbook indecision. Strong news, neutral chart. That mismatch is exactly where I stay patient.

1. Upside or better setup?
Upside exists on the bigger picture, but I want a better setup. I'm not buying a flat 2,703 right under resistance. The risk to reward is bad there.

2. What I'm watching next?
Two things. First, a 4H close above 2,728 with volume. Second, whether the 2,690 area holds as support on a retest. If both happen, ETH finally leaves this range. I'm also watching BTC, because ETH struggles to trend when BTC is stuck, and it flies when BTC breaks out.

3. My move
Spot: holding my ETH, not adding at resistance.
Futures: small size, low leverage, orders only at levels.

My futures plan (my own view, not advice):

Long entry: 2,690 to 2,670 pullback
Stop loss: below 2,640 (4H close)
TP1: 2,728
TP2: 2,775 to 2,800
Breakout version: 4H close above 2,728 with volume, small starter only, targeting 2,800
If a 4H candle closes below 2,672, my long idea is cancelled and I look for a short toward 2,620, then the 200 MA near 2,590

I'm moderately bullish on ETH because of how consistent the accumulation is, but I'm not going to pretend one more weekly purchase changes a flat chart. News gives me a bias, the chart gives me the entry.

What's your take: do you buy ETH on the accumulation story, or only when the chart confirms?

@Gate_Square