#BitmineAddsMoreETH,HoldingsTop6.01M $ETH #ShareWeekly

GM ☕ Three questions keep landing in my inbox about this one, so let me just answer them straight.

Q1: "66 weeks in a row, doesn't that protect ETH?"

I wish. Look at my 4H chart this morning: ETH took a hard flush and is sitting around 2,619, and that buyer has been buying every single week for over a year. So the buying clearly didn't stop today's candle.

Here's how I see it. 15,112 ETH a week is roughly $40M at this price. That is a steady bid, not a shield. It makes dips shallower over a long time, it doesn't make them disappear. I respect the consistency a lot, because consistency is rare. But I don't confuse a slow floor with a safety net.

One more number that made me smile: the holdings were quoted at about $16.4B on Oct 4. At today's chart price, 6.016M ETH is closer to $15.8B. That's roughly $600M of paper movement in a few days, while the buyer kept buying. That's what long-term conviction looks like, and why I never size my own positions like it.

Q2: "So is it bullish or not?"

Long term, yes, I lean bullish. A buyer approaching 5% of supply and taking coins out of the float week after week is a real structural support. Short term, the chart decides, and right now the chart says: hurt, not dead.

Price lost both the 50 and 99 MA (both near 2,695) and now both are overhead resistance
The purple support at 2,611 and the 200 MA at 2,597 are stacked right under price, so this is the line that matters
RSI is about 32, which is oversold, and MACD is deeply negative
The next real resistance is far above at 2,755

Oversold doesn't mean "buy now", it means the sellers are tired and a bounce is likely. Whether that bounce becomes a recovery is the real question.

Q3: "What are you actually doing?"

My plan (my own view, not advice):

Bounce long: 2,612 to 2,597 zone
Stop loss: 4H close under 2,570
TP1: 2,660
TP2: 2,695 (the MA cluster)
If 2,597 breaks: I don't catch the knife. I step aside, or short a weak bounce toward 2,550 with a stop above 2,640
Upside scenario: only a 4H close back above 2,696 makes me think the flush is over, and then I'd look toward 2,755

Size is small, leverage is low, and orders sit at levels. I'm not selling the bottom of a flush and I'm not buying the first green candle.

My morning check-in
Hot topic for me today is simple: does ETH hold 2,597? Everything else is secondary. My status: calm, light, spot untouched, cash ready. If the level holds and volume comes in, I act. If not, I wait for the next one. Waiting is a position too.

So what's your answer to Q1: does steady accumulation make you buy dips, or do you wait for the chart to confirm first?