Today's Observation: Ethereum is surging, is Bitcoin just going to slowly die like a dead fish??

There isn't much to change in today's macro situation.. All the attention and market movements are focused on Ethereum..

The basic details were already written in the previous post, and we just saw off a giant whale today, and in the short term, there aren't any large positions with a close liquidation price from whales..

I don't want to trade Ethereum, so I'll just watch Bitcoin and Ethereum and see how it plays out...

Looking back at yesterday, I waited all day but didn't catch anything.. Finally caught a low long position in the middle of the night.. The range of 11.60~11.58 in yesterday's thought process was very precise.. Just before sleeping, I managed to escape with 800 points...

Currently, looking at the orders, there is still a medium-sized sell order hanging near the previous high of 11.77.. If Bitcoin continues to move without much liquidity or capital during the weekend, there should still be a chance for a high short here..

On the contract side, the orders are a bit tricky.. Originally, there was a wave hanging around 11.58~11.54w.. The order volume and spacing of this wave were very orderly, just like the contract funds that were always doing swings before.. But just half an hour ago, because they didn't receive any fills, they moved the hanging order position up. It is now moved to between 11.63 (the support level tested today) and 11.58w.

Returning to today's thought process..

I originally agreed quite a lot with the range of that wave of contract funds.. 11.58w~11.54w is the range that corresponds to the two needles from yesterday and the day before, and it hasn't been tested again. At the same time, there is also the previous support level near 11.60w which is a reasonable entry point for liquidating long positions over three days... Plus, the support from this wave of contract orders makes it even more stable..

However, just after this wave of contracts moved the hanging order position up, I got a bit confused.. Do I have to be so aggressive? Putting it at 11.63 here.. Is this betting that Bitcoin will continue to be driven up by Ethereum over the weekend?

I'm not very sure about this, so I will continue to consider the range of 11.58w~11.54w for low longs.. If it breaks below 11.50, I will escape.

High shorts are relatively simpler; you can put it just below 11.76w, the kind that escapes with 500-100 points.. If it breaks above 11.80 and holds, I will escape.