With more and more news about the Ether ETF being disclosed, market sentiment is gradually being stirred up. Following the sharp rise the day before, Ether continued to close higher yesterday. From the perspective of the market trend, there is a high probability of the Ether ETF being approved. After approval, the market will probably experience a short-term pullback, just like when the BTC ETF was approved and BTC dropped from around 48,000 to around 38,000. However, it is worth noting that after the decline, a stronger pump followed, with BTC rising directly from around 38,000 to near the historical high of 74,000, almost doubling. Therefore, in the case of Ether having a smaller volume, it is certain that this wave of news will push it above 4,000! BTC breaks through the historical high, removes the corresponding liquidity, and then pulls back before entering the altcoin season! This is a personal expectation for the trend!

After all, BTC has reached around 72000 yesterday, and there is only a space of 2000 points from the historical high point around 73800, which is just a matter of three points. Therefore, breaking through the historical high should be a high probability event. At the same time, according to historical analysis of BTC trends, because it has reached a new high before the halving, there are still quite a few profit-taking positions. So it will take time to digest these profit-taking positions and fully turnover before it can go to a higher position. Therefore, BTC will inevitably oscillate within a range for a period of time, with the oscillation range being around 60000 to 80000!