With two months to go before BTC's next Halving, the BTC has now stabilized around $50,000, thanks to the launch of 11 BTC Spot ETFs, and the strong demand for these ETFs has not only supported the Spot of BTC, but also pushed the BTC higher as the Halving event approaches. The recent BTC shock for several days has given other currencies the opportunity to rise, the BTC shock is expected to end, open up to continue to move higher to challenge 53000, pay attention to the hot spot of the plate that has been pulled up, the AI plate has been pulled before and then there has been a sharp retracement, DeFi has also seen a large increase in these days, pay attention to the decline and switch of heat, especially out of the sun, the Spot side can change the car part to the top that did not rise (the remaining take the Medium Term). Those who play contracts must grasp the rhythm well.
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The weekend market continued the structure of the previous period, once again out of the rhythm of the see-saw, yesterday when the bottom low near 50500, the formation of an effective rebound, out of the 1500 point short this morning, the highest to 51900, the range is simple and clear, not all retracements are reversal trend, although yesterday fell below the recent new low, but the key integer mark 50000 did not break through, then the trend will not change easily, today continue to wait for the retracement Long. From the perspective of the four-hour structure, the Long Wick Candle on the disk touches the top, the closing chord is yin, there is a short-term demand for retracement, the structure of the high-level shock has not changed here, the short-term three-chord is an upward opening, the low point has moved up, and you can pay attention to the considerable situation of the middle rail during the day, first suppressing and then rising. Combined with the hourly level, the upper shadow chord closed to too long, the Long volume is a little excessive, first look at the retracement strength, the white disk pays attention to whether it can stand above MA7, if it closes above, the Long head continues to rise, on the contrary, it will test the 5w mark, the intraday thinking suggests that the high short low is Long, the upper suppression is 52000-52500, and the lower support is 51000-50500
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From a narrative point of view, there are two main drivers of Ethereum at present, one is the wave of applications for spot ETFs, and the other is the upcoming Cancun upgrade. The most important at this stage is undoubtedly the ETF that can attract traditional capital into the market. Judging from the Bitcoin, since the approval of 11 Bitcoin Spot ETFs, although Bitcoin has experienced a short period of profit selling, with the support of institutions, more than $5.2 billion has flowed into the Bitcoin ETF market, driving the Bitcoin to successfully recover its losses, now trading at $51,759. Because of the successful experience of Bitcoin ETFs, the narrative of Ethereum ETFs has also attracted widespread attention. Up to now, in addition to Grayscale's application for a convertible Spot ETF in the original trust, six other institutions, including BlackRock, Fidelity, Invesco, Hashdex, 21shares, and VanEck, have submitted applications for Ethereum Spot ETFs. Previously, the SEC postponed the first and second rounds of applications for all applicants, and now the upcoming approval date is March 5, with the latest approval date in July, with March and May being the intensive approval period.
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The Ether Cancun upgrade is coming, the Exchange Rate continues to strengthen, and over time, the key support level of the broader market is also moving upward; from the 1h market, the Short Term support in the lower 2900/2910 area has been tested Long, there is a certain undertaking, and the repeated pullbacks during this period are just to wash away the retail chips in the middle. Yesterday's Ethereum is also the bottom of the V anti, high Plummet the interpretation of the incisive, the day again touched around 3055, the current pressure is concentrated in the vicinity of 3040-3060, the price after the four-hour level market shock back to MA7 above the run out of the breakthrough again, MACD Short head turned Long double-line water golden fork, short-term focus on the strength of the step, the day is recommended to retrace to 3000-2960 near the Long in batches, the target is 3050-4000, the break continues to look.
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