Ethereum and Bitcoin have similar trends, both in a "slightly declining parallel channel". Ethereum slightly broke the previous low, the amplitude can be ignored
In the channel, Ethereum's shorts shrank significantly, indicating that its shorts are weak. When rebounding, Ethereum rebounded quickly with large volume, while Bitcoin rebounded slowly without volume
From the above points, it can be seen that Ethereum is stronger than Bitcoin
Some traders suspect that Ethereum has reached its peak. For details, please refer to yesterday's article and identify the peak through volume comparison
The Ethereum ETF will start trading on July 23. Several institutions that issue ETFs have announced the fees for trading the Ethereum ETF, which means that the Ethereum ETF will start trading next week.
Some traders may wonder whether the market will fall after the Ethereum ETF starts trading, just like when the Bitcoin ETF starts trading.
My personal opinion is that this possibility is not great. When the Bitcoin ETF starts trading, Grayscale needs to replace GBTC with the Bitcoin ETF , while selling GBTC in hand, while buying ETF, so it caused the market to fluctuate, and Bitcoin rose before the start of trading
The current situation is that Ethereum has been fluctuating for so long, and there is no need to change hands, so the possibility of Ethereum ETF going up directly when it starts trading is relatively high
Just because the market fluctuated and pulled back when Bitcoin ETF started trading, it cannot be judged that Ethereum ETF will also fluctuate and pull back when it starts trading. This idea is too subjective and has no basis, but will make you lose the opportunity
It is impossible to be 100% correct in trading, so you need to use trading strategies and position management, and enter the market in batches, so that you can effectively control risks
Spot traders: Don’t miss out in the bull market, and be careful of being trapped in the bear market. In the current bull market, short positions will miss opportunities. It’s okay to be trapped in the bull market, and you can cover your position when it pulls back. Holders of coins have capital, and they can deal with both ups and downs, with both offense and defense
Long-term trading aims to catch bull trends. Experts do not seek the lowest point, but can layout relative to the bottom. Strategy premise: understand the market, distinguish bulls and bears, judge the trend, misjudgment is dangerous
Just like Bitcoin from 2022 to now, those who are waiting for the second bottom and shorting all the way can see what the result is
