#Bitcoin and #ETH Ethereum Update;
There is still no indication that we will call positive in the images on the spot side. This indicator ended when the price was above 71K. In other words, Coinbase aggressively emptied the Bitcoins it collected aggressively after 67K while Binance kept the price spot and futures above. After Coinbase sold all of its purchases, Binance sold and lost 71K. They emptied goods in front of our eyes, and no one wanted to see it by showing it, even though I showed it, we talked about it because you were looking wrong. Coinbase spot pretended to buy at night and they sold again.
The image is still negative on the spotlight, there are many who underestimate Coinbase, but it doesnât have to show direction. Therefore, we may not see a permanent recovery in the market unless there is a positivity seen by Coinbase.
Binance has moved to a merchant position on the Spot side. The whales on the Binance spot have started selling after they allowed the sale on the Coinbase side, they continue to be in the current state. The price hung above, despite all this, this scares me, that is, it creates another possibility of a new crash. Therefore, if anyone has taken into account the coinbase stimulation, they should continue to pay attention when buying futures. The intermediate recovery in the price is coming, it goes above 70k, but the bottom comes out empty, so it goes down comfortably below 70k back. Donât let the 500-1000 dollar rises deceive you, these can be easily brought from the futures side.
The part that interests us is that the rises are full of gold. Six non-full rises oscillate between pump and dump. So if the price goes to 71K and starts to buy Coinbase, we understand that it will be above 71K. But if you think that I missed the rise between 69800-71K, you canât win in any way anyway. There is nothing as healthy as trading with six full data that is trusted.
On the Ethereum side, the Spot image continues to appear positive only in the Coinbase private, but there is no horizontal buy. Since it is the US-based etf process, it is already quite normal for the Coinbase side to be positive. The Binance side is selling on eth. I donât share it because there is a limit of 4 pictures, instead I will show open positions in eth. Already, the fact that it hangs above in its Bitcoin is caused by the power on the eth side.
Ethereum Spot has reached the largest future open position amount in its history with the ETF news. A total of $3.3 Billion worth of positions have been opened, some of which have been closed, and $2.6 billion is still standing. With the increase of open positions with funding, we can understand that there is a busy long position inside that they supported the price more than the future, so this place is very swollen. They are waiting for the Spot etf decision for the cleaning of this place, I think that even if there is a possible news of approval or rejection, the cleaning of this place will definitely be done. If the process is something similar to BTC, it can try over 4K with the approval news and sell the news. With the news of Sell the news, they will have already cleared the majority of the density here. Although there are short-term fluctuations, Ethereum Spot etf is a very positive development in the medium term, we will all see through the process. There is no need to talk about the situation of no approval, everyone already knows what can happen to us.
These shares show the overall image, not for your short-term trades. Because the data is negative, you open a leveraged position higher than 69K, there will be a news, the price will throw 1K up, you become liq, but because the data is negative, the price rises, it falls back and it stays where it does not receive a trade, and you delete 1K. Iâm trying to show that the overall image is negative, so there is no positive image. If the crash comes all of a sudden, the data was bad, it should be said that it should meet normal. If the price goes from here at 71K, as long as the spot image on the back does not support it, it will come back.
Itâs been a little long, sorry, I wanted to explain it in very detail, in order to show how to look at the process more clearly.
Good days are near, be patient. #Binance #btc #ethereum $BTC $ETH