Regarding ETF, regarding ETF, last week Bitcoin spot ETF had a net outflow of 387 million dollars, while Ethereum spot ETF had a net inflow of 349 million dollars.
It can be clearly seen that the current trading volume has entered a very low level, the same as the trading volume during the eight months of garbage fluctuations around 65,000 dollars, so the current market crash has nothing to do with so-called big players or institutions, it's all about the PVP of BTC holders under low liquidity. The real price trend still needs to wait until the phase of liquidity recovery.
So let's simply talk about the market.
BTC has been fluctuating between 92,000 and 100,000 for about 10 days now. From a daily perspective, there is a potential head and shoulders pattern. The neckline position is around 92,000+. It can be seen that the trading volume is decreasing from the left shoulder — top — right shoulder; the MACD also shows a downward trend.
Currently still above the neckline, and a bottom divergence has appeared at the 4-hour level, so the current price is another high-cost performance position, which can be used for a bullish trade.
If it breaks below the neckline, it corresponds to a stop loss. Unless it recovers above the neckline again, otherwise, we should not continue to be bullish in the short term.
My opinion is still around 95,000 in fluctuations, 90,000 cannot break, if it breaks, there will be panic selling.
The short-term support level for ETH is very clear, around 3300. If it can't hold here, it is very likely to test the previous low around 3100 again. Above 3300, continue to maintain a bullish outlook. Once it breaks through 3560, the ETH market should be here.
In the past few days, the battle between bulls and bears is still undecided; everyone pay attention to risks and be careful in operations:
Reject harmony, the market currently appears calm, but in reality, there are undercurrents surging;
The best way is to observe and wait for a chance to bottom out in spot trading or get on board. I believe the market will not disappoint your wait;
At this time, it’s necessary to pay attention to trend trading. This time it’s best to wait until it stands up before buying; I personally believe if it doesn’t stand up, the possibility of another drop is greater; not bearish, just expressing my true opinion on the market.
In these few days, there are no events that are particularly bullish or bearish, just low liquidity and low trading volume. Everyone can see that it’s a garbage time. It’s not far from 1.10, but not close either. In reality, we need to wait for American liquidity to return, which requires waiting until the evening of 1.6 to see market sentiment, especially in the US, because that day is Monday. Moreover, the unemployment rate expectation for 1.10 hasn’t been released yet.
1. On the day of 10.1, the US announced the unemployment rate, and then there were no major data releases until 1.20 when the power transition occurred, and Trump took office, emotions will start to trigger FOMO. According to URPD data support, there has been no effective chip accumulation breaking 94,000, the price went down to 92,000, and quickly recovered.
Combining data, macro trends, and speculative scripts, we are currently oscillating. Regardless of breaking or not breaking 92,000, we can expect the next 1-3 months to touch a new peak. Of course, I won’t guess prices, just observe trends. If we want to see altcoin season, it’s when we expect BTC trends to be strong, then ETH can be strong, and altcoin season can be expected.
My approach is also very simple: I will not open any contracts or leverage, I will not touch the long-term spot positions, and I will clear short-term positions that I currently consider to be non-alpha projects, while trying to increase U-based holdings, waiting for opportunities to enter the market.
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Focus on spot trading
Group content:
1. Seize the opportunity to establish positions in the next three months, which can allow many people to leap across classes again in the bull market!
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3. The market has become active again, and definitely needs new star sectors or currencies to ignite a new bull market. Catching one will yield big profits, catching a few will yield explosive profits!
As the year-end approaches, Ethereum is under pressure, and most small investors are fluctuating. Currently, I’m focusing on a doubling fresh stock, expecting a rise of over 40%. Last week, Old Nine recommended Zen, and it has already risen by 50%, perfectly escaping the peak. Grab the last chance to make money before the year ends!!!
Hurry up and follow the steps of Old Nine!! Limited spots, first come first served, only for a small number of fans!!! Get on board below 857!!!
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