Since Bitcoin hit a bottom of 53,000 on July 5, the market has undergone a major reversal in half a month, fluctuating upward, and broke 66,000 in the past two days.
After the golden cross of EMA200 and EMA20, Bitcoin fell back, and the price consolidated near EMA20 for 24 hours (6 4-hour candlesticks), and then a big positive line continued to rise. At present, both EMA20 and EMA200 moving averages have turned upward. 1. For the outlook: If Bitcoin is to rise to 70,000, it is best not to have a large price retracement, and at the same time, the slope of the EMA moving average continues to increase, forming a complete long arrangement. 2. The next low-risk entry position: continue to wait for EMA20. As long as the price does not effectively fall below EMA20, the overall market will remain strong.
My direction in the past two years has always been: more than 100,000. In fact, for any investment target, there should be only one direction within a cycle, and after the cycle ends, consider another direction. After the direction is correct, it is a matter of position management.
When it is 70,000, buy less and sell more. When it drops to 60,000, buy more, and below 5.5, it is even worse. In the long run, control your positions and don’t need to pay attention to the market and market sentiment. In the short run, pay attention to the shocks before and after the Ethereum ETF, which mainly focuses on Ethereum and the projects in this series. There is a high probability that they will go to extremes, but no matter which direction, they will first pull out a big positive line.
There is a big news today: the Chicago Board Options Exchange (Cboe) announced that five Ethereum spot ETFs will be listed on the exchange on July 23. These ETFs include Fidelity Ethereum Fund, Franklin Ethereum ETF, Invesco Galaxy Ethereum ETF, VanEck Ethereum ETF and 21Shares Core Ethereum ETF. Cboe has issued a new issuance notice, which is one of the procedures before the ETF is issued.
ETH’s spot ETF will be released next week. Many friends are worried that Grayscale will dump the market again. Here are some of my personal opinions.
1. It was not Grayscale that dumped the market, but its users. Grayscale holds almost no ETH.
2. The so-called market crash was mostly due to the high handling fee of GBTC at that time, and many investors switched from GBTC to other ETFs. PS: Even so, GBTC currently holds more than 280,000 BTC, slightly lower than the 600,000 BTC stock at the opening.
3. Although Grayscale’s ETHE transaction fee is also very high this time, there is a Mini ETF of ETH, which accounts for 10% of the total. It is hoped that the sell-off can be reduced, but it is hard to say whether some people will not be able to bear it.
4. Sell The News is also probabilistic and very normal, but if you say that the same scale as BTC caused a 26% pullback, I personally don’t believe it. The quoted tweet makes it very clear.
5. Many friends are saying that the price of ETH is already priced in, and the expected good news will be bad news. This idea is 100% wrong. Many people said this when BTC was first launched, but it turned out to be a new high after the correction period. The same is true for ETH, because the biggest good news is not the news of the ETF passing, but the real money and silver that came in after this news, which turned into purchasing power, which is the real good news. If nothing unexpected happens, August will be the time for Ethereum and the Ethereum system to explode!
Since Bitcoin hit a bottom of 53,000 on July 5, the market has undergone a major reversal in half a month, fluctuating upward, and broke 66,000 in the past two days.
After the golden cross of EMA200 and EMA20, Bitcoin fell back, and the price consolidated near EMA20 for 24 hours (6 4-hour candlesticks), and then a big positive line continued to rise. At present, both EMA20 and EMA200 moving averages have turned upward. 1. For the outlook: If Bitcoin is to rise to 70,000, it is best not to have a large price retracement, and at the same time, the slope of the EMA moving average continues to increase, forming a complete long arrangement. 2. The next low-risk entry position: continue to wait for EMA20. As long as the price does not effectively fall below EMA20, the overall market will remain strong.
My direction in the past two years has always been: more than 100,000. In fact, for any investment target, there should be only one direction within a cycle, and after the cycle ends, consider another direction. After the direction is correct, it is a matter of position management.
When it is 70,000, buy less and sell more. When it drops to 60,000, buy more, and below 5.5, it is even worse. In the long run, control your positions and don’t need to pay attention to the market and market sentiment. In the short run, pay attention to the shocks before and after the Ethereum ETF, which mainly focuses on Ethereum and the projects in this series. There is a high probability that they will go to extremes, but no matter which direction, they will first pull out a big positive line.
There is a big news today: the Chicago Board Options Exchange (Cboe) announced that five Ethereum spot ETFs will be listed on the exchange on July 23. These ETFs include Fidelity Ethereum Fund, Franklin Ethereum ETF, Invesco Galaxy Ethereum ETF, VanEck Ethereum ETF and 21Shares Core Ethereum ETF. Cboe has issued a new issuance notice, which is one of the procedures before the ETF is issued.
ETH’s spot ETF will be released next week. Many friends are worried that Grayscale will dump the market again. Here are some of my personal opinions.
1. It was not Grayscale that dumped the market, but its users. Grayscale holds almost no ETH.
2. The so-called market crash was mostly due to the high handling fee of GBTC at that time, and many investors switched from GBTC to other ETFs. PS: Even so, GBTC currently holds more than 280,000 BTC, slightly lower than the 600,000 BTC stock at the opening.
3. Although Grayscale’s ETHE transaction fee is also very high this time, there is a Mini ETF of ETH, which accounts for 10% of the total. It is hoped that the sell-off can be reduced, but it is hard to say whether some people will not be able to bear it.
4. Sell The News is also probabilistic and very normal, but if you say that the same scale as BTC caused a 26% pullback, I personally don’t believe it. The quoted tweet makes it very clear.
5. Many friends are saying that the price of ETH is already priced in, and the expected good news will be bad news. This idea is 100% wrong. Many people said this when BTC was first launched, but it turned out to be a new high after the correction period. The same is true for ETH, because the biggest good news is not the news of the ETF passing, but the real money and silver that came in after this news, which turned into purchasing power, which is the real good news. If nothing unexpected happens, August will be the time for Ethereum and the Ethereum system to explode!
