The next day, affected by the Bitcoin ETF, Bitcoin oversold a lot. When I woke up in the morning, I saw a scene that was completely different from the past two months. Except for Bitcoin, which was red, all other stocks were green. This scene is rare..
Yesterday's ETF data showed a net outflow of 226 million dollars from the Bitcoin ETF and a net inflow of about 100 million dollars from the Ethereum ETF. It can be seen that the sentiment of funds in the market has changed before the holiday. The consensus in the market has split without a clear direction, but most of the liquidity in the market is still there. The fastest start time is after the holiday. The return of the ETF main force will determine the subsequent rise and fall of the currency price. Therefore, for full-position spot players, don't sell high and chase low. There is a high probability that they will come back next month. Spot players with surplus can cover their positions at low prices.
ETFs will be closed today and tomorrow. As the main driving force of this bull market, it is difficult to promote a unilateral upward trend without the influx of new compliant off-site funds in the past two days. After all, a large amount of liquidity in the market is basically trapped. Whether it is the 20% retracement of Bitcoin and Bitcoin, or the 30-50% adjustment of XRP/DOGE in the top ten in market value. Therefore, Bitcoin will basically only fluctuate between 97500-92000 in the next two days. Swing traders can buy low and sell high according to this range..
Without the continuous selling pressure of ETF in the past two days, the price of the currency will basically be stabilized by the Asian market, and the probability of continuing to plunge downward is extremely low. As the bottom support continues to rise, it is likely to fluctuate upward before the return of ETF. Tonight, try to enter a long order near 93200 below, and take profits in batches at 96500-97500 above. Enter Ethereum near 3350 below, and take profits in batches at 3450-3500 above.
Regarding the next round of cottage season, I personally think that when the top market value coins such as XRP, DOGE, etc., which have fallen sharply in this round of adjustment, are pulled up and a large amount of liquidity trapped above is released, there will be a logic of general rise. We still need to wait patiently..
