Yesterday, in the article of Master, a long long was pre-buried in the range of 66200-66600, and the market fell to the lowest level around 66213 in the afternoon. Then it rose to the highest level around 67350. The first target of the long position in the article was 67350, and the pre-buried long position won 1150 points of profit.
Hot topics of Master Chat:
Yesterday, the Ethereum spot ETF's trading volume reached 320 million US dollars in the first hour of its launch, while the previous Bitcoin spot ETF's first hour trading volume was 610 million US dollars.
At present, ETH is performing well, with the trading volume exceeding 50% of Bitcoin in the same period. But at the same time, some big investors also chose to take profits in advance yesterday.
Because Ethereum has the properties of a high-quality bond, it is easier for institutions to make money with Ethereum than with Bitcoin.
It has more room for speculation, inflation and deflation can be controlled, and its financial management and bond attributes make Wall Street very fond of it.
Although the current price of Ethereum is relatively weak, the future of Ethereum is still worth looking forward to after the ETF is passed.
Master looks at the trend:
BTC 1 hour:
Currently, Bitcoin is at 66K after falling due to the Mt.Gox compensation.
Although the currency market is facing uncertainties and other negative news in the short term, the outlook for Ethereum spot ETFs is positive in the long run. With the upcoming US presidential election, it is expected that these negative factors will eventually be digested and there is a high probability of an increase.
At present, the master will gradually pay attention to the previous box range and trade based on the short-term rising trend line.
Resistance level reference:
First resistance level : 66300
Second resistance level : 67200
When breaking through the first resistance level, due to the resistance of the 60-day and 120-day moving averages above, you can operate from the perspective of callback when it rebounds.
At present, the moving average has changed into an inverse arrangement. Since the short-term trend is bearish, we need to pay attention to whether it can break through the moving average and turn into a positive arrangement when it rises.
Support level reference:
First support level : 65800
Second support level : 65100
A short-term rebound can be expected at the first support level, while the short-term rising trend line and the second support level will be a good risk-return ratio range.
In addition, because the current coin price is on the short-term upward trend line, the short-term rebound view can be maintained.
Today's trading suggestions:
In today's trading, short-term operations can be carried out based on the short-term upward trend line.
Although a short-term rebound can be expected, since it is close to the trend line, I suggest that you pay attention to the probability that the currency price will deviate from the trend line when operating.
If the price of the currency breaks away from the trend line, the downside space will open further and 65.1K will be set as an important support line.
7.24 Master's short-term pre-buried order:
Long entry reference: 64700-65100 range, long in batches, 500 points of defense, 65800-66300
Reference for short entry: 67200-67600 range short in short to defend 500 points target 66300-65800
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