(10.19 midnight analysis No. 51)
68000 has stabilized, and the daily line has begun to climb, so we can basically start to shout that we are ready for sector rotation.
Those who have watched the live broadcast today basically know that the basic logic is clear, hold positions and wait for the rise, and wait for the wind to come.
I promised to do what my fans did yesterday, and focus on why Ethereum does not rise, it is so weak.
Let’s talk about the fundamentals first: Ethereum and Bitcoin have applied for ETFs. Bitcoin’s market share continues to strengthen, while Ethereum is constantly being beaten. It’s not complicated. Can Ethereum pull the market? Of course it can, it can pull more than 20 points a day. When Sun Ge shouted to buy every day, was Ethereum always pulling the market? For two weeks, it even suppressed Bitcoin, but the good times did not last long. Later, it was revealed that the foundation continued to sell pressure, and even the founder had a sell order, and there was no positive news.
Looking at Bitcoin: In addition to Grayscale, Germany and the selling pressure of the Mentougou incident, we can always hear that institutions such as BlackRock have increased their holdings in countries such as El Salvador as strategic reserves, and the original consensus in the currency circle is that everything except Bitcoin is a copycat.
Ethereum is not on the same level as Bitcoin in terms of narrative itself. Similarly, Sol seems to have performed mediocrely during this period. On the other hand, the most active mainstream is Bitcoin and BNB. The latter is obviously a brand online.
Then, technical analysis of chip distribution shows that Ethereum is trapped here at 3030-2850, not only retail investors but also many large investors. So large investors are trapped, and if they don’t cut, they need more funds to pull the market. Three words: the car is too heavy!
I won’t analyze the others tonight. You can just watch the live broadcast in the afternoon. The output is already quite a lot.
