Analysis of Ethereum market trend next week
1. Ethereum BlackRock ETF will be officially listed on the evening of July 12, when the US stock market opens. The ETF is expected to rise, and the positive news will be realized. Next week, we will see a rebound and then a pullback
2. After the big cake fell below 53,000, more than 80% of the mining machines will be shut down. The probability of being below this position for a long time is not high. It may be a second pin at 53,000 to clean up the long leverage and then rebound upward
3. From the perspective of market sentiment, buy when no one cares, sell when the crowd is noisy. After nearly 3 months of shock and decline, the market is currently in extreme panic 29, the Nine Gods indicator is 0.68, and the big cake rainbow chart shows that it is currently in the bottom range, and most retail investors' assets have shrunk by more than 50%.
4. Most of the altcoin contracts have negative rates and are severely oversold. Many people short and sell at the bottom, and dare not buy the altcoins at the bottom, which leads to a surge in some altcoins. Hold on, the rebound of Ethereum will drive the altcoins to recover.
