24/07/08BTC weekly line has not stopped falling, ETH is testing the neckline support, patiently waiting for mid-term opportunities!
The weekly closing price continued to fall below 56552, and will continue to test the support of 53500. This is the price that chose to break down after 4 months of high-level fluctuations. We have also said before that the platform top is not the top, and there is a probability of subsequent correction and breakthrough. The highest rebound at the weekend was 58475, and then fell.
Ethereum rebounded to 3081 and then fell. It was said before that the Ethereum market was hanging by the expectation of ETF approval. The longer it was delayed, the more dangerous the market was. It was delayed from early July to mid-July, and the SEC did not clearly state the specific time from beginning to end. It was just market speculation. Do you think these applying institutions and the SEC will provide timely assistance or icing on the cake?
The average price of institutional ETFs led by BlackRock is 55,000. They are basically in a small floating loss. They can't pull up the market. Can retail investors buy the bottom as the market falls? Many people keep buying the bottom along the way. If you are doing short-term, it's okay. If you keep adding positions, I'm afraid you will be uncomfortable for a while.
Flatbread
The weekly line has 4 consecutive negative lines, and the closing line last week did not stand firm at 56552M and did not recover. This wave of rebounds has not broken through 72,000 times, and the weekly MACD has been in a downward trend. Now the monthly KDJ has a dead cross, and the weekly MACD is still in a downward trend. KDJ dead cross
, the big cycle does not cooperate with the bearish dominance, and the daily line has not stopped falling. Remember the bottom-picking opportunity we mentioned is 44,000-46,000.
In the 4-hour period, the price fell in a step-by-step manner from 72,000 to 70,400, and then continued to fall. It fell below 66,000 and rebounded, but it was not recovered. It rebounded from 58,400 to 64,000 and continued to fall. In the past two days, it rebounded from 53,485 and then continued to fall from 58,500. Each wave of rebound was smashed by the shorts. It depends on when this routine ends to bottom out.
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ether
After rebounding to 3081, it continued to drop to the lowest 2824 to test the M head and neck line support. It is only a matter of time before it falls below 3081. The whole trend will be reversed if it falls below 3081. As for the cottage industry, once Ethereum accelerates downward, the cottage industry will not be spared either! ! ! Bottom-fishing is an aggressive behavior, short-term quick entry and exit, and it is easy to be trapped. Wait for medium and long-term trading opportunities!
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