Last week set a positive fundamental vector for market movement in the medium term.
There has been a lot of positive news for crypto: the approval of the ETH ETF, an excellent report from Nvidia, Trump’s public statements about supporting crypto, positive economic data in the US, and much more.
Many violas $PEPE grew this weekend, and today the growth of most coins continues 📈
We can assume that today is also a weekend for the crypto market, since there is no trading in the United States.
Namely, the USA is the main source of liquidity for the crypto market.
Therefore, all true market movements will begin only from tomorrow.
An interesting fact is that most market participants are increasing their shorts, which is clearly visible from funding.
❗️Funding is a metric that shows who is more on the market, margin shortists or longists. If short sellers predominate in the market, the rate is negative. And if long traders predominate, the rate is positive.
Now funding across the entire market is strictly in the negative zone. This means there is still a lot of fuel for growth.
Considering that the amount of USDT in the market continues to increase due to the new printing.
🔹 What's wrong with Ether?
We have previously written thoughts about this asset 👉 ETH ETF accepted. What's next? , but now there is more to add.
$ETH Ether closed the last week perfectly, successfully breaking through and consolidating above the bullish Flag pattern.
Moreover, the breakdown of the figure was on a huge volume, which only confirms the truth of the breakdown.
Now Ethereum has only one resistance - the level of $3980.
The level is quite strong, so we can see a slight pullback in the price before breaking through to around $3400 🛡
Personally, we would not make such a bet, but if by some miracle you did not purchase Ether on our recommendation, then perhaps you will be given another opportunity to enter, but at a higher price.
Above the level of $3980 there is already emptiness until the last historical high of $4868, where there will be at least some kind of stop.
❗️For example, look at Bitok, which, after reaching the previous historical high, went sideways for 3 months in the range of $59,500-73,000. Bitcoin is still traded in this sidebar to this day.
Yes, news is already coming out on Ethereum, saying that trading in spot ETH ETFs could be launched as early as the fall.
But these rumors are already enough to continue the rally in the medium term.
💰 What about Bitcoin?
Unlike Ether, $BTC For Bitcoin, the picture is not so rosy.
Bitcoin was unable to gain a foothold above the bullish Flag pattern on the weekly timeframe, leaving just a shadow on the floor of the candle and returning back inside the border of the pattern.
However, as mentioned above, Bitcoin has been trading sideways for 3 whole months and this time is enough to gain new strength in order to continue the upward rally🚀
Bitcoin has not yet even recovered the growth of the bullish Wedge pattern, which was broken 2 weeks ago.
In theory, the price can go to a retest of the figure from above at approximately $62,300.
We no longer expect the price to be lower, since the long-term moving average MA20w and the medium-term upward trend are in this area.
⚖️ And in general, given the similarity of patterns with Ether, we should expect that Bitcoin will catch up with Ether and not fall.
We think that the full growth of the entire market will begin at the beginning of next month and we hope you are ready for this, just like us.
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