Bitwise Files Form 8-As for Two New Ethereum Futures ETFs, AETH and BTOP; Funds Intend To Begin Trading on Monday, October 2, according to Businesswire.
The two prospective ETFs are the Bitwise Ethereum Strategy ETF (ticker: AETH) and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF (ticker: BTOP), says the news.
Active Undecided
From our perspective, and if there is high volatility those days, we see that the bulls could enter Bitcoin with force at that average price between $26608.32 and $27161.29. Currently the safest entry is to wait for the retest of support at $26,608.29.
If you like to enter with a bearish feeling, we recommend that your entry be below $26353.02. In any case, it is important to remember that Bitcoin is in a moment of reaccumulation, so it is better to let the price have a natural development.
At the time of writing this article, this digital asset was setting its sights on the aforementioned major support. We know that investment funds tend to generate controversy in the cryptocurrency community, which is why it is advisable to carry out intelligent risk management.
Fingers Crossed
Ethereum is not far behind. We see the strength of the bulls above $1684.59. However, in the case of the bears we believe that it is important to wait for a possible rebound at the support of the exact point of $1649.80 so that there is no error in the entry calculations.
However, a safer entry for those sitting bears would be below approximately 1635.59. Furthermore, from our point of view, Ethereum, and if this asset does not rebound at the important point mentioned, it may follow a more bearish path and when the investment fund is launched, the main market players enter strongly, mostly with short positions than long ones.
Final Conclusions
Facts from previous dates remind us that while the entire cryptocurrency community maintained a bullish sentiment, those actors played at being the archers and caused the price to collapse to such a point that many were left with their eyes open. So stay alert to any news or updates.
For our part, the truth is that we are waiting for the corresponding closings of the current month to make a good decision regarding Bitcoin and Ethereum. These closings are: quarterly, monthly and weekly.
See you next time...
Last article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. Remember that all information presented here is a combination of third party data added to our personal opinion.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Rubikkav.
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