10.24 Evening Review Don’t be afraid of holding Ethereum shorts, the antidote is here!
The rise of Ethereum this time has basically nothing to do with Ethereum itself, it is just due to Bitcoin. From the weekly line, Ethereum has temporarily broken through the middle track of Bollinger, but there is still a long time this week, and the entity breakthrough is still unknown. From the monthly line, it is under pressure on the middle track of Bollinger.
Why am I not optimistic about Ethereum in the short term? Recently, based on the practice of V God Ethereum Foundation selling Ethereum, their credibility is not so sufficient in the short term. In addition, the leader this time is Bitcoin, which has already hit a new high this year, and Ethereum is still 300 points away from the highest point of the year. Retail investors will think that Ethereum will make up for the rise. I am not optimistic. When Bitcoin stabilizes and falls back, Ethereum will enter a cyclical decline.
