Bitcoin weekly line closes with a long lower shadow #BTC☀
Last week, after Bitcoin hit the bottom with a long lower shadow, it immediately rebounded and closed with a positive line. It can be seen here that there is a lot of buying space below 5.8W.
From the overall structure, the long-term fluctuation of Bitcoin between 50,000 and 70,000 yuan is probably more of a wash than a top, because ETF spot brings a huge amount of liquidity, and this fund is sustainable. Compared with the incremental funds brought by Grayscale in 2020-2021, it is undoubtedly much more. Grayscale alone can push Bitcoin from 24,000 to 60,000. So how much room for growth can this wave of spot ETF bring? Let's wait and see.
Ethereum weekly chart
At present, the weekly line of Ethereum has clearly formed a large triangle adjustment pattern. Compared with the U-shaped bottom pattern of the previous wave, technically speaking, the potential may be slightly insufficient, but once it breaks through the triangle, under normal circumstances, there will still be two waves of main upward waves. In this case, the lowest point of breaking through the triangle is 1.15W or more.
As a side note, this year is undoubtedly the best year for the cryptocurrency world. Bottom fishing, all in, bottom fishing, all in, bottom fishing, important things must be said three times.
