24/07/18BTC rebounded to 0.618 but was blocked. Will it replicate the head and shoulders bottom pattern? ETH spot ETF fees announced!
After breaking through 66128 yesterday, Bitcoin fell below 65000 and is still around 64600. The rebound of the weekly BOLL middle track under pressure did not break through 0.618. The entire high-level shock has gone through the head and shoulders bottom pattern twice before, and this time is still worth looking forward to. In March and May, we reminded twice that the arc bottom + head and shoulders bottom pattern rebounded to around 72000 and then fell sharply.
The US SEC has approved two Ethereum spot ETFs to be listed on the NYSE Arca. Issuers still need to wait for final comments on their respective S-1 documents before they can officially start listing spot products. The fees of the nine Ethereum spot ETFs have been announced. Grayscale's Ethereum spot ETF fee is 2.50%, which is more than ten times the fees of other ETFs. The basic script is to use immediate callbacks, which is the same as GBTC at that time.
Flatbread
The weekly rebound is suppressed by the BOLL middle track, which is not a good signal and needs attention. If the middle track fails to break through, there is a chance to continue to pull back to the BOLL lower track support. The daily line forms a cross star signal of long and short reversal. If the support 62300 is broken, there is a chance to break out of the right shoulder of the head and shoulders bottom, which is what we call filling the CME gap of 58000-60600.
This wave of daily MACD bottom divergence pulled several thousand points, RSI turned after breaking through the downward trend line, and the OBV indicator continued to fall after crossing the yellow line. Yesterday we said that it is difficult to break through the double Yin and Yang above 66,000-70,000 at one time.
support:
pressure:
ether
It also touched 0.618 and then pulled back. Pay attention to the support rebound of 0.382 (3240) and 0.235 (3080) below. The daily OBV indicator rebounded but did not break through the yellow line. The RSI indicator entered the overbought area. The 4-hour trend was sideways and volatile. In the short term, pay attention to the rebound opportunity after the pullback.
Bitcoin spot ETF has continued to receive inflows of about 1.5 billion for 9 consecutive days. Yesterday, it was said that something big is going to happen. Whether it is ETF inflows or contract positions, the actions of Ethereum Fund will be implemented in the near future. I analyze that the news must be combined with the capital side. You can't just listen to what others say, but also see what others do!
support:
pressure:
