The BTC and ETH pins at this time are a bit interesting
There are two explanations for this pin: either the ETH spot ETF is not passed, and people who got the wind came to dump the market and sell, or it was a burst of long orders to relieve the pressure for the subsequent pull-up.
If it is a burst of long orders, especially the long orders chasing the rise, this force of the pin is far from enough. At least it must be a pin on the 4-hour line, and those who chased the rise by more than 10 times will be burst, so that the subsequent pull-up can run fast, that is, ETH pins to 3500-3600 US dollars, BTC pins to 64000-64800 US dollars;
If it is a wind that is not passed, then before 24:00 today, it should not be able to recover the decline of the pin, that is, BTC cannot reach 71,000 US dollars, and ETH cannot reach 3940 US dollars.
If this rise is caused by the ETH spot ETF to pass, then this force is too small. It is obvious that the funds outside the market have not entered the market, and it is the retail investors in the market who are chasing the rise. It has been exactly two months since the shock decline in mid-March. Retail investors have earned wages and have bullets, which are enough for the oil money for this wave of rise.