23/07/20BTC breaks through the ascending triangle, the market continues to fluctuate upward, and Ethereum ETF will start trading on July 23
According to official information from the Chicago Board Options Exchange (Cboe), the platform has confirmed that five Ethereum spot ETFs from VanEck, Invesco, Fidelity, 21Shares, and Franklin Templeton will begin trading on July 23 (next Tuesday).
Binance.US has been approved by a judge to invest customer assets in U.S. Treasuries, which is a good thing in the long run, but not in the short and medium term. The U.S. Treasury bond rate has risen from 1.132% in 2021 to 5% in October 2023, and has continued to rise for 2-3 years. The U.S. Treasury dollar index can no longer rise, and a correction is inevitable. This approach is to realize the control of Binance funds and let Binance protect the U.S. Treasury bonds.
Germany only crashed 10% on the exchange, and the remaining 90% were over-the-counter transactions, and the market fell by more than 20%. The copycats were even worse, and the copycats were cut in half again, and the transfer of Mt.Gox addresses also scared new and old investors. In this wave, although we reminded to buy the bottom position at 55,000, add positions when the daily line broke through, and also reminded to reduce positions when it rose to 66,000 and fell back to 65,000, we believed that the CME gap of 58,000-60,600 would be filled. Later, we still felt that we should pay attention to the breakthrough of the triangle pattern. The overall grasp is general, and the road to timely adjustment is long and difficult.
The dog dealer or American trading method is obvious here. The Dow Jones has experienced multiple circuit breakers or cuts in half during its century-long rise, but it is still setting new highs. During this period, the big cake continued to rise after a false break. Germany sold nearly 50,000 bitcoins in total and obtained about 2.64 billion euros in funds. More than 90% of bitcoins are over-the-counter transactions, but the market plummeted to clean up the leverage of retail investors. Therefore, it is recommended that friends who are determined to stay in this trading market for a long time should not just look at the news. Any changes in the information and fundamentals will be fed back to the capital side in the first time, and the technical and capital sides are relatively more real!
Flatbread
Last night I reminded you that Bitcoin broke through the 1-hour and 4-hour triangle, reaching a high of 67,386, an increase of nearly 2,600 points. It is currently oscillating around 66,600, taking two steps forward and one step back. You will find that if you buy after the breakthrough, it will fall back, and then it will pull up again. Bitcoin is still dealing with the pressure of the double-yin and yang from June 11 to 13, and is oscillating upward normally to consume the pressure.
Pay attention to the weekly KDJ golden cross, RSI, and OBV, all of which show signs of breaking through. If the weekly line remains above 65,000, we can expect it to break through the middle track next week. If it breaks through the middle track, we will see the pressure of 72,000. The daily line breaks through MA60 and MA120, the OBV indicator breaks through the yellow line, and the RSI falls back and continues to move upward, which is still a fluctuating upward trend.
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ether
Among the expected impacts of spot ETFs, the Chicago Board Options Exchange started trading on July 23, and the highest price on the market reached 3540 and then fell back. The weekly line also broke through the BOLL middle track, and the RSI faced the expectation of breaking through the KDJ golden cross. The 4-hour box broke through and fell back, and the Fibonacci 0.618 suppressed it, and the direction was still oscillating upward. It is worth noting that the Grayscale Trust Fund sold after the Ethereum spot ETF was approved, and the wallet address affected by Mt. Gox has dropped from 138,000 on the 16th to only 90,000 now.
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