#ETH Yesterday, a friend who exited the market called me and said to go all in on Ethereum, seeing the historical high of $4800, and a new high of $6000. I agreed with his viewpoint (after being convinced by the shorts two days ago). Today, I repeatedly thought about this logic, and I feel that it is risky. I believe the sentiment is overheated; even the elderly know that ETH is going to rise. My fan group is the same; at least half of them were bears before, but now they are all bulls. This concentrated bullish sentiment makes me lean towards the viewpoint of distributing at the top. At this position, I don't necessarily think we should short, but at least we should be wary of the risks.

I am posting in advance. My view is that #BTC and #ETH both have clear signals of distribution at the top on the 1D chart. When such signals appear, there is generally a second surge, which is very likely to be a new high. BTC may spike to 130000-140000, and ETH may spike to 4100-4200. This wave of surging will wipe out all the shorts, and retail investors will collectively FOMO into chasing highs and get trapped. So at this position, be brave and short in.

Of course, we need to pay attention to the risks. The Federal Reserve is very likely to cut interest rates at the end of September, so this price cycle is just these two months. It is very likely that a second surge will be completed in early August, and then there will be a distribution drop all the way down. We will have to wait until the Federal Reserve's interest rate cut is finalized for new funds to enter and push up the market.