Nov.7-Nov.14(ETH)Weekly market recap
The U.S. Department of Labor released CPI data for October yesterday. Both broad CPI and core CPI were smaller than the previous values and expected values. When the data was released, many tokens pumped, but quickly returned to a downward trend. This shows that fluctuation of the crypto is still dominated by ETF news. Of course, if more funds enter crypto market from other assets, the impact of monetary policy will gradually become more significant. Therefore, before TA, from a fundamental perspective, BTC and ETH are more likely to remain fluctuating after the callback.
Judging from the WTA indicator, although the long green candle attracted whales, they also left during the subsequent callback process. Ahead of Monday, the candle's performance was relatively subdued. But a long upward shadow appeared on Monday. This indicates that the uptrend may be over. So the long red candle appeared on Tuesday.
To sum up, we believe that after ETH gives back its excessive profits, it will continue to enter the fluctuation again.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Judging from the WTA indicator, although the long green candle attracted whales, they also left during the subsequent callback process. Ahead of Monday, the candle's performance was relatively subdued. But a long upward shadow appeared on Monday. This indicates that the uptrend may be over. So the long red candle appeared on Tuesday.
To sum up, we believe that after ETH gives back its excessive profits, it will continue to enter the fluctuation again.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
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