Ethereum and Bitcoin have similar trends, both in a "slightly declining parallel channel". Ethereum slightly broke the previous low, the amplitude can be ignored
In the channel, Ethereum's short position has shrunk significantly, indicating that its short position is weak. When rebounding, Ethereum rebounds quickly with large volume, while Bitcoin rebounds slowly without volume
From the above points, it can be seen that Ethereum is stronger than Bitcoin
Some traders suspect that Ethereum has reached its peak. For details, please refer to yesterday's article and identify the peak through volume comparison
The Ethereum ETF will start trading on July 23. Several institutions that issue ETFs have announced the fees for trading the Ethereum ETF, which means that the Ethereum ETF will start trading next week.
Some traders may wonder whether the Ethereum ETF will fall after it starts trading, just like the Bitcoin ETF
My personal opinion is that this possibility is not high. When the Bitcoin ETF starts trading, Grayscale needs to exchange GBTC for the Bitcoin ETF, selling the GBTC in its hands while buying the ETF, which caused the market to fluctuate, and Bitcoin rose before trading began.
The current situation is that Ethereum has been fluctuating for so long, and there is no need to change hands, so it is more likely that the Ethereum ETF will go up directly when it starts trading.
Just because the market fluctuated and pulled back when the Bitcoin ETF started trading, it cannot be judged that the Ethereum ETF will also fluctuate and pull back when it starts trading. This idea is too subjective and has no basis, but will make you lose the opportunity.
It is impossible to be 100% correct in trading, so you need to use trading strategies and position management, and enter the market in batches, so that you can effectively control risks.
Spot traders: Avoid being empty in the bull market, and be careful of being trapped in the bear market. In the current bull market, short positions will miss opportunities. It is okay to be trapped in a small bull market, and you can cover your position when it pulls back. Hold the currency and you will be able to cope with both ups and downs, both offensive and defensive
Long-term trading aims to catch the bull trend. Experts do not seek the lowest point, but can make a relative bottom layout. Strategy premise: understand the market, distinguish between bulls and bears, judge the trend, and misjudge the danger
Just like Bitcoin from 2022 to now, those who are waiting for the second bottom and those who are shorting all the way can see the result
