Everyone can see the psychology of market participants, as soon as they dropped the news about approval - we immediately fly and fly well! I understand that the likelihood of ETF approval is high, even if it happens this week or in a month, what is important is the result and the market reaction that we are now seeing.It is logical that after the BTC ETF, the media will begin to promote the ETH ETF (I remind you that applications have already been submitted). And now imagine what will happen to Ether and alta🤯The price will begin to rise based on expectations, because everyone perfectly saw how BTC was flying and there will be an “understandable reaction” of GROWTH!
#BTC Thoughts A strong resistance level of $44,500 that holds BTC, if the price breaks this level, the path to $48-50k is open.
Funding rates are cold on both BTC and alt, the sentiment shows that open interest is minimal and everyone expects the market to decline.
I have this plan for myself...
In the near future, 1-3 days, if we don’t go up and don’t see an impulse movement, I will wait for a “takeout” before going up. Great volatility awaits us and they will hit us in both directions!
Here is the G&P figure that most market participants trade. Everything looks perfect, we broke through the support level (neck line), came to its retest and waited for traders to take Short positions, but that was not the case.
There is no need to short against a rising market, ARB has great potential for growth up to $10.
After the BTC ETF, news about the ETH ETF will follow, and then Ethereum and all L2 solutions will grow.