Master Chat Hotspot:

Major institutions have begun to predict the inflow of funds after the approval of Ethereum ETF. Galaxy Digital believes that there is a lack of staking rewards.

In the first five months after the launch of Ethereum ETF, only $5 billion has flowed in, while the outflow of funds from Grayscale ETHE is expected to reach 319,000 ETH per month, about $1.1 billion.

Looking at this, in the first five months, the outflow from Grayscale alone has reached as high as $5.5 billion. This data indicates that in the short term after the approval of the ETF, the bearish sentiment outweighs the bullish sentiment.

The recent market has indeed been a bit boring. The market was supposed to rebound, but it was scared off by the news of selling from Beijing, the United States, and Germany.

So the market has returned to oscillation, and everything still needs to wait for these few FUDs to land before making a thorough decision.

Master's Trend Analysis:

BTC 4-hour chart:

According to Master's chart analysis yesterday, after breaking through the downtrend line 1, a new low has been reached.

Although the price rebounded to 60.6K, due to the increasing bearish views, Master suggests that everyone can consider responding when the price falls to 59.3K.

If the market trades sideways on Saturday and breaks through the trend line, then a sideways view can be adopted in the short term. However, until a breakthrough occurs, a bearish view should still be maintained.

Resistance Level Reference:

First Resistance Level: 61300

Second Resistance Level: 62000

If the first resistance level is broken, the short-term view can be changed to bullish.

However, considering the weekend, there may be a consolidation, so it is important to focus on the trend within the range. Instead of expecting another breakthrough at 61.3K, it is better to adopt a consolidation view at the first resistance level.

Support Level Reference:

First Support Level: 60600

Second Support Level: 59300

Since the price has experienced a small-scale decline, Master has adjusted yesterday's second support level to the first support level, setting a more appropriate risk-reward ratio.

Because the first support level is likely to be broken again, a response can be made at the psychological support level of 60K. A short-term bearish view should be maintained until the downtrend line is broken.

Today's Trading Suggestions:

For ultra-short-term trading, operations can be conducted within the range of 60.6K to 61.3K. Since there is usually no significant volatility over the weekend, there is no need to trade frequently! And set stop-loss and take-profit levels strictly.

Please refer to these suggestions when trading

6.29 Master's Short-term Pre-set Orders:

Long Entry Reference: 58900-59300 range, gradually enter long positions, defend 500 points, target 60600-61300

Short Entry Reference: 62000-62400 range, gradually enter short positions, defend 500 points, target 61300-60600

This article is exclusively planned and published by Master Chen (WeChat public account: Coin God Master Chen). If you need to learn more about real-time investment strategies, how to get out of trouble, spot contract trading techniques, operational skills, and candlestick knowledge, you can add Master Chen for learning and communication. I hope to help you find what you want in the cryptocurrency circle. Focusing on BTC, ETH, and altcoin spot contracts for many years, there is no 100% method, only 100% follow the trend; daily updates on macro analysis articles across the web, technical analysis of mainstream coins and altcoins, and spot mid- to long-term replay price prediction videos.

Friendly reminder: Only the column public account (as shown in the picture above) is written by Master Chen. The end of the article and other advertisements in the comment section are not related to the author. Please distinguish between true and false carefully. Thank you for reading.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。