Mingjie: The launch of Ethereum spot ETF is a negative factor. Today, it completed the harvesting of long and short positions, and will look to short again tonight!

CN
5 months ago

After Bitcoin went through the ETF spot in January, it also experienced a 10-day decline. Currently, Ethereum is going through a similar trend after the ETF, with both showing downward trends in the evening.

You have been standing still and feeling good about yourself. Wake up, your understanding is not enough. It's best not to dabble in the currency circle. A lack of information can be enough to make you fail. Mingjie suggested shorting in the morning and going long in the afternoon, which corresponds to today's trend. The overall market dropped from a high position, followed by a rebound after hitting the bottom. It can be said that following any wave today is advantageous. Today, the overall market gained more than 3000 points, and Ethereum gained more than 100 points. If you are feeling confused in your recent operations and don't know what to do next, take a look at the daily strategies here. Mingjie will also tailor a solution for you based on your specific situation, guiding you step by step out of the predicament.
The rapid selling pressure in the afternoon also allowed everyone to benefit, followed by a rebound near the previous support level, which coincides with our afternoon strategy, all of which was disclosed in advance. The strength of this small rebound is not very strong, and overall it is still in a weak downward trend. Looking at the hourly chart, the candlesticks are running around the lower and middle bands of the Bollinger Bands, and the market is weakening continuously, making the rebound noticeably difficult. If things develop normally, there will still be a rebound and then a fall in the short term, so we will continue to maintain a high short position in the evening.
BTC strategy: Short near 67800, target near 66800
ETH strategy: Short near 3737, target near 3650

For more information, follow Mingjie's official account

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