I just want to ask

Good afternoon everyone, this is Li Mu. People leave names behind, and wild geese leave sounds behind. The market has memories; every transaction arrangement leaves traces. Recently, a series of arrangements regarding BTC and ETH have been successfully recovered under your witness, and the market has entered the decision-making zone again, along with Li Mu to deduce the future market.

I have looked at the on-chain data in the past couple of days. The open contract volume of BTC has dropped sharply by 40%, from 45 billion dollars a few days ago to 28 billion dollars, reaching the lowest point since April this year. At the same time, as of the 21st of this month, institutional selling has ended, and large whales have taken over the buying. ETFs have also begun to see positive inflows. Does this feel familiar to everyone? The floating chips have been completed, forming a median bottom market to regain strength, which is another confirmation of the previous viewpoint.

Looking at the market, Bitcoin has reached 9.19W, and Ethereum has reached 3070. As a phase target, it should end here (one can refer to the smart money addresses; basically, it has completed the closing here), but problems have arisen again.

Ethereum’s short-term selling pressure has receded, and Bitcoin's trend shows signs of continuation.

The retreat of Ethereum is due to hitting the resistance in the price range, while Bitcoin’s continuation is due to the reverse purchasing of the closed contracts. Therefore, as long as Bitcoin does not clearly break through, Ethereum will continue to be stuck in grinding until Bitcoin finds its direction. So now it is not advisable to bet on short-term targets anymore; entering without basis is merely gambling. However, one can think in the opposite direction: assuming there is a false surge to the top, it is better to prioritize a trade near Ethereum 3010 and Bitcoin 9.1W, targeting Ethereum 3100-3130 and Bitcoin 9.3-9.35W, and then start measuring shorts.
#加密市场反弹 #ETH走势分析 $BTC $ETH