In the past 48 hours, there have been 7 crypto-related ETF applications:
VanEck On-Chain Economy ETF
Canary Litecoin ETF (19b-4)
Oasis Capital Digital Asset Debt Strategy ETF
CoinShares Digital Asset ETF
ProShares Leveraged and Inverse XRP ETF
ProShares XRP Futures ETF
ProShares Solana Futures ETF
Yesterday, the net inflow for Bitcoin spot ETFs in the U.S. was $975 million, and the net inflow for Ethereum spot ETFs was $23.9 million. The ETH/BTC exchange rate has dropped to around the previous low of 0.03187; if it cannot hold this level, it will continue to break down.
The Ethereum ecosystem is generally weak. During this period, there have been reminders to sell ETH and increase positions in other altcoins. Holding positions that do not rise and even fall is not ideal. Although we bought at 3150 after the spike to 3101, we also entered around 3000 after the spike to 2920 and sold after the rebound. On the contrary, increasing positions in ETFs has yielded profits of over 20-30%. As for the future, we need to observe the exchange rate trends to decide whether to hold or not.
Bitcoin
The daily shark pattern has reached below 106,000, perfectly hitting the expected stage at 105,865. Since we warned about the false breakdown, it has risen over 15,000 points, a gain of 16%. Yesterday, it strongly broke through 102,724, which is also a W neckline breakthrough. We expect a pullback during the day. Comrade Jianguo will deliver an inaugural speech at 1 AM on January 21, with 2 days left, anticipating significant volatility.
The 4-hour chart shows a short-term engulfing pattern, with a short-term pullback testing the support at 102,724. It cannot fall back to the W neckline support; otherwise, the adjustment time will be slightly extended, but the overall direction remains unchanged.
Support: Pressure:
Ethereum
After touching 3525, it rapidly fell, dropping to 3288 at the time of writing, a decrease of 3.8%. The daily line is also close to the upper edge of the descending wedge we mentioned, facing pressure to pull back. Pay attention to the support at 3200. Watch for opportunities to break out after the adjustment and oscillation of the descending wedge!
Support: Pressure:
Regarding altcoins, PNUT and ZEN have shown strong rebounds previously, and we are looking for rebound opportunities in the future. For altcoins that have been at the bottom for a long time, we should remain cautious as they may continue to break down. This is what we mean by the strong getting stronger and the weak getting weaker. Many weak altcoins will exit the market after this bull run, just as it happened in the bull markets of 2017 and 2020. Only those that can survive the crypto tide will become increasingly valuable.
If you like my views, please like, comment, and share. Let's navigate through the bull and bear markets together!!!
This article is time-sensitive and for reference only; it is updated in real-time.
Focusing on K-line technical research, sharing global investment opportunities. Public account: Trading Prince Fusu
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。
