Ethereum's ETF will start trading tomorrow, and Biden has also officially issued a personal statement announcing his withdrawal from the election. I am looking forward to the market trend in the future. Few people have mentioned the second-layer network recently. This wave of callbacks in the second-layer network is indeed very large, but the long-term benefits brought by the second-layer network to the ETH ecosystem cannot be ignored, which is also the reason why the second-layer network is relatively heavy.
As the first currency issued by the second-layer network, OP has a relatively large consensus. Although each break of the previous high will trigger a wave of callbacks, although the process is very tortuous, the overall trend is a healthy upward trend. As can be seen from the figure, the price of OP is constantly breaking the previous high, and the low point is gradually rising.
During this period, the wash was quite cruel. It broke the previous high three times and callback three times. It gave people the feeling that as long as the previous high was broken, there would be a callback, and the amplitude of the callback was still large.
This is very fatal to those traders who are looking for swords on the boat. They think that they have discovered the law of the main operator of OP. The market is fickle. When you can see the law, it is the closest to being fooled. The next time the previous high is broken, there may not be a chance of callback.
OP's callback has ended this time, and a bullish engulfing has stopped the decline. The mid-term opportunity has arrived. The rise of Ethereum will inevitably drive the entire Ethereum ecosystem to rise. The long-term has missed the best time to layout, so it can only do the mid-term. After the decline stops, it will enter a shock. The entire shock range is the opportunity for layout. Do a good job of position management. I believe that OP will not disappoint you next.
Of course, there are also many people who are not optimistic about the second-layer network because the callback is too strong. These people only see the appearance and think that rising is good and falling is bad. They measure the value completely by the high or low price. It is because of this idea that they buy whoever rises, chase the rise and kill the fall, and there is no such thing as early layout.
This wave of callbacks has washed out those who are not determined. In addition, the current background trend is a bull market. This is an opportunity. There is gold everywhere. Which are opportunities and which are risks depends on personal vision.
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