Ethereum refreshes this year's high again! Is it about to take off? Everyone, look at the chart:

According to the data, the funding rate on exchanges has risen significantly, and the long positions are a bit crowded. Whether it can continue to rise is uncertain, but we can confirm that ETH is not at the bottom right now.

In the second chart, you can see that last night's ETH funding rate was very negative, and the price was 3700. At that time, I mentioned that a negative funding rate could trigger a rise. Since last night until now, ETH has indeed surged significantly, and the funding rate has turned from negative to positive, with the crowded shorts all becoming fuel.

So the short-term entry points for ETH and BTC are relatively easy to judge; as long as the funding rate turns negative, the coin price is relatively at the bottom and will rebound to some extent, making it an opportunity to pick up money for free. We discussed this last night. And currently, the funding rate hasn’t turned positive, so I won’t bottom fish at this time.

However, one thing everyone needs to understand is that a positive funding rate does not represent a top, because most coins have a positive rate. Therefore, looking at the funding rate to short is not quite right, as this indicator is more used to judge bottoms and is more sensitive to them.

From the trend perspective, we previously topped out Bitcoin at 120,000 and shorted, and shorted three times at 116,000, but the third time encountered a sudden positive news from Trump, which forced the crypto market to extend its life.

Although I can’t be as bearish as before, I still feel that the current coin price is a bit high. I will be more patient and wait for a better entry signal.

For example, as just mentioned, if the funding rate turns negative, or indicators such as RSI being oversold and MACD golden crosses signal a buying opportunity, then I would be more confident in entering the market.

I am not in a hurry; good entry opportunities will always arise. There’s no end to the money in the crypto world, so don’t pressure yourself. If you didn’t make money in this wave, just wait for the next one~