The surge in meme coins shows that the market lacks narratives, and June is the "focus battle"!
Currently, the Ethereum ETF narrative has been suspended. The market is waiting for the approval of the S-1 document. After it is approved, it will be officially listed and traded, and traditional funds will enter the market to pull up the market
But is it selling the news or rising directly? No one can tell clearly
Some believe that after Ethereum is approved, it will plummet like Bitcoin due to various selling pressures, and short-term investors will also choose to sell
Some believe that the market will rise directly, because Ethereum is different from Bitcoin. Ethereum first passed a document. This cycle provides enough buffers, and various negative factors will be digested
Bitcoin fell yesterday due to the abnormal movement of the Mt. Gox compensation wallet. After a day of retracement, it received obvious support near 67,300 yesterday and is currently on the way back to the $70,000 mark. The current market does not allow deep retracements because the market sentiment has been fully mobilized
Bitcoin will continue to rise at the 4-hour level, re-challenging the 70,000 mark, and then the new high of 73,777
In short, May is about to pass. I have said before that every retracement is the best opportunity. After May, there will be no more opportunities to hold cheaply. The market trend is often contrary to the expectations of most people, so the possibility of a direct rise that is unexpected is greater.
Of course, these are just predictions. As practitioners of long-termism, we only buy and do not sell now, so we can accept any short-term market decline.
As long as we can eat the fattest piece of meat at the end, it is enough
