Let's review $ETH with everyone.
Actually, when I analyzed on the 12th, I already marked the three key pullback positions and mentioned in the group that you could buy in batches.
The market started to decline due to last night's CPI data. Today, Ethereum dropped to around 2315 at its lowest, and altcoins fared even worse.
At this position, there might be a short-term rebound, but don't think a rebound means the bottom is reached.
The weekly structure hasn't fully improved yet; I'm more focused on the second position near 2000.
I also said on Monday that I remain bullish on the long-term trend, and the year-end market is worth looking forward to. But before that, the market may still undergo a relatively deep correction.
Look around, many old altcoins have already reached weekly resistance levels. If they really want to break through, some selling pressure must be digested in between; they can't keep rising continuously.
Plus, the capital flow and $BTC's trend still need observation, so there's no need to rush now.
This drop was completely expected. Be cautious in the short term, but no need to panic in the mid to long term.
If it really falls to key positions, just watch how the market moves and consider building positions in batches. The key $BTC level to watch is around 75,000-76,000.
Keep some position reserved; don't panic at every drop, and don't chase every rebound. Keep some funds on hand so you have the initiative when opportunities come.
#BTC spot ETF net outflow again, can institutional buying recover?
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