Today is July 8, and the price of BTC is 57600.
Ethereum ETF is expected to pass this week, how to look at the market
After the news that Ethereum ETF may pass this week came out this afternoon, the market rebounded from 54300 in the morning to 58300. Friends who like to do long contracts immediately got excited. However, as early as June 30, after BTC showed a 4% positive line offline (4-hour MA250), I repeatedly emphasized that the market may come in mid-July. Although BTC is currently on the 5-day line, the 10-day line and the 20-day line are still steeply downward. It is expected that it will take two weeks for the three lines to converge (approximately in the middle and late part of the month), and then with the promotion of good news, a big market will begin. So it is still not a good opportunity to do a strong long position offline.
How to operate spot and leverage at present
So, how to open offline (4-hour MA250) contracts? Can spot be bought now? In this case, contract operations should be opened as little as possible. According to the current market rhythm, it is expected that prices will not fall sharply in the short term, but there will be no continuous strong rise. In the range of 55,000 to 58,000, you can carry out intraday long and short operations, and patiently wait for the opportunity of online long orders. In terms of spot, you can gradually build or change positions at low levels for some active currencies, such as PEPE, PEOPLE, WIF, SOL, UNI, ONDO, FET, ETH, etc. Patiently wait for the convergence of the three lines, time, space and news are all in the second half of the month (you can buy some Red Bull and be prepared).
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