Jerlis Michael (jerlis.eth)

this quote form Nietzsche:

Elon Musk: "I am the largest individual taxpayer in history. I've paid over $10B in tax. I thought the IRS might send me a little trophy or something."

$ETH – Macro Thesis My thesis is that the major bullish move that began around 2019–2020 has transitioned into a large and prolonged macro correction, and that Ethereum has been consolidating within this broader corrective structure ever since. The strong rally that followed the 2022 bear market created the appearance of a renewed bull market, but structurally it fits better as a counter-trend move within a broader corrective range rather than the start of a new long-term cycle. Throughout this corrective phase, price has remained largely range-bound, repeatedly failing to establish sustained acceptance above the previous cycle highs. This behavior points to distribution and consolidation, not continuation. From this perspective, the apparent bull market that developed within the correction can be interpreted as a dead cat bounce, a technically strong bounce occurring inside a larger corrective structure. The current market structure suggests that a final shakeout phase may still be required to fully reset sentiment and liquidity before Ethereum can transition into a new impulsive bullish cycle. Only after such a reset would a genuine long-term move toward new all-time highs become structurally likely. Macro Structure Breakdown (Chart Context) The Pump (2019–2021) This phase represents the true impulsive bullish move following the 2018 bear market. Price shows strong trend expansion, increasing momentum, and clear higher highs and higher lows, classic characteristics of a genuine bull market. The Correction (2021–2026) After the peak, ETH enters a wide, multi-year corrective structure. Despite several strong rallies within this range, price fails to establish sustained new highs above the prior cycle peak. Structurally, this period behaves more like distribution and correction than continuation. The Shakeout (Projected) The chart anticipates a final liquidity-driven move to the downside, likely intended to break market confidence, force capitulation, and reset positioning ahead of a new cycle. The Moon (Projected) Only after this shakeout does the structure suggest the conditions for a true long-term bullish continuation, with price discovery and expansion well beyond previous highs.