Demeester was responding to a tweet by popular trader Peter Brandt, who had commented on an ETH breakout earlier this week, and predicted further altcoin gains against Bitcoin in the near future. This, combined with exploding demand for decentralized finance (DeFi) applications on Ethereum in recent weeks, had given investors cause to be optimistic.
While many alt-coins like BINANCE:BATBTC are roaring at this particular moment, BINANCE:ETHBTC seems to have slowed down some. I've circled several areas on the candle chart in the idea snapshot that shows where ETH bounced from support, with a low Stochastic RSI which swiftly bounced. However, we are coming up against a long downtrend in the market... Inside The Cryptocurrency Revolution | VICE on HBO