ETH2800, but these institutional guys are really bad!
Last night, I came across many positive articles about ETH, with numerous institutions stepping up to promote Ethereum, claiming that Ethereum is undervalued, the Ethereum ecosystem is recovering, and Wall Street funds are flowing into Ethereum for accumulation. The popularity of ETH has also been very high in the past two days, and the recent price surge seems to confirm these claims.
1. Institutions
1. This is actually an overly optimistic trap set by some institutions.
2. They are big players worth hundreds of millions; I assume their cognitive abilities are enough to outsmart me in every way. Back in April, when ETH was at 1500, I realized Wall Street had already begun accumulating Ethereum. I insisted on writing about the reasons for bottom-fishing ETH with an average of 600 words per day for two months; now, with the ETH price at 2800, are you telling us Chinese that Wall Street funds are flowing into Ethereum for accumulation?
3. These institutions are really devious, encouraging everyone to chase high prices. Objectively speaking, there are already institutions in the market that have begun to take profits (see attached image).
2. K-Line
1. From the K-line perspective, ETH has closed above 2500 for five consecutive weeks, and compared to the weekly charts of all major coins, it looks healthy and strong. If the pattern holds, this is an important accumulation zone for future upward movement.
2. If we chase high prices for ETH as these institutions suggest, we might make money, but it is definitely not as they say, that institutions just entered the market; they are downplaying the situation and want to use their influence to trick retail investors into buying from them. Because they hold a large number of call options.
3. On the monthly chart, ETH has also broken through, and the view that ETH will challenge its historical highs by the end of the year remains unchanged.
4. Operational aspect:
Those holding ETH in spot positions should definitely continue to hold for the medium term, but for those who want to jump in immediately and chase high prices due to these intentionally released messages from institutions, I personally suggest waiting for a pullback before entering the market. Currently, only real money or significant positive news can continue to drive prices up.
I hope this can save all of you some money.
