May 6, 2024 Grandpa checks in

Bitcoin is back to above 65,000 again, which is basically consistent with yesterday's prediction. The market is always fluctuating, and it is difficult to do without a unilateral market, which requires a better mentality. According to this rhythm, the short-term market will continue to go up, but the space may not be large, and it is likely to find a position to continue to go down.

As the market plummeted, all kinds of arbitrage opportunities gradually disappeared. Therefore, in a bull market, it is not only about cherishing funds, but also about seizing opportunities to make money. I believe everyone has experienced the bear market, where there is no income after a long wait, and the opportunity you have been looking for is often rejected. This is the fundamental reason why I asked everyone to reduce their positions and keep funds for arbitrage.

ETF dynamics, Hong Kong's 6 Bitcoin and Ethereum spot ETFs had a total transaction volume of about HK$60 million today. Although it cannot be compared with that in the United States and is basically not worth mentioning, it is always a good thing to open up a compliant channel for the Hong Kong dollar. It may not be a big positive in the near term, but it is definitely a good thing in the long run. I hope that there will be a day when funds will grow by leaps and bounds.

Since the support of Bitcoin is 60,000 and the support of Ethereum is 3,000, the chips that were previously bought at the support level have made a profit. In terms of operation, I will consider taking half of the profit at 10 points and 20 points. There is no obvious trend of unilateral market in the near future, so we can combine the characteristics of wide range fluctuations to do high selling and low buying.

Thank you for your attention and likes.