Next Monday, which is tomorrow, nine Ethereum futures ETFs will be launched, with a scale of $700 million. The rebound of ETH in the past two days has led to a certain rise in the entire cottage industry, which is basically due to the digestion of this positive news, but it will inevitably rise and fall later. After the effective breakthrough of 1688, the maximum pressure level is 1750. Long orders approaching need to stop profit and do not chase high.
I am on vacation this week and basically have not done any contracts. Although the daily rebound seems to be relatively stable, the key resistance above has not yet been broken and stabilized, and the trend reversal is still uncertain. In August, I looked forward to a rebound in October, based on the fact that the monthly lines in July and August closed down. September is a link between the previous and the next. I am firmly bearish in November and December, so there must be a buffer in October. The current rebound is still just a rebound, not a reversal. Many KOLs have seen that the rebound has been going well in recent days, and their enthusiasm for bullishness has risen again. They think that the bull market is back, and they are also bullish in November and December, believing that BTC will soon rise to 30,000 or even 40,000. Their reasons are nothing more than three points: 1. The interest rate hike is coming to an end; 2. Cancun is upgraded; 3. BlackRock ETF review was passed ahead of schedule. I think we should still be rational when doing transactions. It is a good thing to be able to rise. Everyone can make money with spot goods, and everyone is happy. But at this stage, there is no pattern, at least the contract cannot be patterned, and it can only be played in the short term. During the wash period, the potential risks are very high. Although there was a rebound in October, there was also a plunge in October. We must not only learn how to go up the mountain, but also know how to go down the mountain. While loving the market, we must also respect the market. Although the current market is rebounding, to be honest, I am still bearish. Bearish does not mean that you short sell, but that you know how to escape the top in time when the band is at a high point to avoid being trapped at a high position.
Recently, many people think that the bottom has appeared when they see the rebound, and they are afraid of missing out, and they have the urge to sell their houses and go all in. I just want to say that there is no need to do so. Even if you don't participate in it at all before the end of December, you will not miss out.
In addition, I never recommend going all-in to play cryptocurrencies. Selling your house and savings to play cryptocurrencies is a very immature investment behavior. I only use 10-15% of my income for risky investments. When playing cryptocurrencies, I never deliberately try to make a lot of money. I pursue more of a process. Perhaps, people in their thirties begin to realize that stability is very important for life.
