BlackRock resubmits spot ETF, beware of ETF traps

In 2021, BTC passed the ETF and reached the bull peak three days later. At the end of 2017, CME listed BTC and reached the bull peak of 2017 a week later.

ETFs tend to ferment in bear markets and pass through bull markets.

I vaguely remember that in 2018 and 2019, every time BTC fell sharply, there were reports that institutions applied for ETFs, then forced short selling and pushed up the price, and finally the shorts were exposed, and then the ETF was rejected, and the mainstream started a big correction.

Same recipe, same taste. Today, ETH and BTC options positions have hit record highs. If you are in the market chasing the rise, you must be extremely careful.

BTC：

The U.S. stock market is closed, and the BTC bullish volume continues to weaken. It is still in a volatile trend. The bottom of the hourly line continues to rise, indicating that the bulls are increasing their support. The upper $31,325 is the key point for the pin. Only by breaking through $31,325 with large volume can it quickly rush higher. Next, BTC rose and fell at $31,325.

Resistance: 31325, 31528, 31764

Support levels: 30959, 30742, 30523

ETH：

NFT plummeted and the chain cooled down, which had a negative effect on ETH's expected bearish selling pressure. The hourly line continued to insert pins, and ETH entered a box trend. The upper $1972.5 is the key resistance point of the box. Only by standing firmly at $1972.5 can it bottom out and rise, entering a bullish upward trend. Next, ETH rose to $1972.5 and fell back.

Resistance: 1972.5, 1985.3, 1996.8

Support levels: 1944.3, 1926.5, 1902.7

Spot prices are recovering, mainstream funds are flowing out, avoid chasing high prices, and wait patiently for the market to bottom out further.