I'm curious: when you trade crypto, do you use ETF fund flows as a reference?
Bitcoin ETFs have seen net outflows for two days in a row, and flows across the major crypto ETFs have diverged noticeably—sometimes in, sometimes out.
Bitcoin took a big hit today, with a large bearish candle. I expect that when we look at today's data tomorrow, it'll also show a sizable net outflow from ETFs.
Personally, I think this big bearish candle is just the beginning. I expect a gradual decline from here, until we get another large 4-hour bullish candle with a long upper wick. Otherwise, it'll be very difficult to recover after breaking below the uptrend.
The price action from here won't be as smooth.
As for my own trading: I'll be bearish over the next couple of weeks, so I already trimmed some of my positions today, even though my long position this morning was stopped out. But then again, isn't this big bearish candle exactly the kind of clear-cut opportunity I've been waiting for?
Sustained net outflows from ETFs show that institutions are taking some profits. We won't be able to recover all the lost ground in one go.
#比特币跌破8.4万美元
Bitcoin ETFs have seen net outflows for two days in a row, and flows across the major crypto ETFs have diverged noticeably—sometimes in, sometimes out.
Bitcoin took a big hit today, with a large bearish candle. I expect that when we look at today's data tomorrow, it'll also show a sizable net outflow from ETFs.
Personally, I think this big bearish candle is just the beginning. I expect a gradual decline from here, until we get another large 4-hour bullish candle with a long upper wick. Otherwise, it'll be very difficult to recover after breaking below the uptrend.
The price action from here won't be as smooth.
As for my own trading: I'll be bearish over the next couple of weeks, so I already trimmed some of my positions today, even though my long position this morning was stopped out. But then again, isn't this big bearish candle exactly the kind of clear-cut opportunity I've been waiting for?
Sustained net outflows from ETFs show that institutions are taking some profits. We won't be able to recover all the lost ground in one go.
#比特币跌破8.4万美元
