Davie Analyzes BTC and ETH Spot Fund Outflows
According to Twitter user Davie, BTC spot funds have significantly flowed out, amounting to approximately $1 billion, with contract fees being negative. However, retail investors are showing strong bullish sentiment, with a long-to-short ratio reaching 2.5. The current rebound is bearish, with resistance levels at $78,000, $78,500, and $79,000, while support levels are at $76,800, $76,000, and $75,200. It is recommended to short when the price rebounds to around $77,600 to $78,000, with a stop-loss set above $78,500 and targets set at $76,000 and $75,200. ETH has also seen a large-scale withdrawal of spot funds following BTC, with a net outflow of $1.1 billion in the past 24 hours, severely squeezing the bulls. It is estimated that the market will continue to liquidate long positions, and any long positions should wait for a 4-hour candle to close with a long lower shadow; otherwise, avoid going long. The resistance levels for ETH are at $2,430, $2,450, and $2,470, while support levels are at $2,400, $2,350, and $2,300. If it falls below $2,400, it is advised to follow the trend and short, with a stop-loss set above $2,430 and a target near $2,350. If there is a rebound to around $2,430 to $2,450, it is recommended to short, with a stop-loss set above $2,470 and targets at $2,400 and $2,350.
-- Price
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