A Night of Terror for ETH! Whales Smash the Market + Regulatory Bad News Double Hit, We Must Defend the 1838 Lifeline!
ETH is currently a powder keg, with both technical and news aspects full of threats! First, let's discuss the market — the trading volume has plummeted, with 150,000 in actual volume barely making a dent, retail investors are playing dead while the main players sharpen their knives; this kind of shrinking volume and downward trend is the most dangerous!
Either they suddenly pull a fake bullish line to trick you into buying, or they directly smash down through the floor; rushing in now is like throwing your head in for free, not even enough to fill the dumpling filling for the retail investors!
Looking at the indicators, the MACD death cross has locked the door, the bearish green bars are getting longer, and the DIF line is being rubbed on the ground by the DEA; want to turn it around?
Unless a rocket launch creates a golden cross, otherwise this downward trend drama could continue for another three months! The moving averages are even more disgusting, the 5-day and 10-day lines are firmly pressing down, the price can't even touch the edge of MA5; trying to catch the bottom? Be careful, the market makers might just chop your hands off to feed the fish!
The news is a direct nuclear-level bad news! This morning, a giant whale transferred 30,000 ETH into exchanges, and historically, 90% of the time this action is a precursor to a market smash; the short-term selling pressure can turn people into meat patties!
What's worse is that the SEC might take action against ETH tonight; the regulatory sword is hanging over us, and the 1838 support level is now the shorts' last hope; if it breaks, it's a full naked run!
The most outrageous thing is that retail investors are still digging their own graves; the long-to-short ratio on contracts has reached 2.0, the screen is full of fantasies of "the bull is coming back fast", but what market makers love to do most is to specifically hunt down the bulls — the more you shout bull market, the more I will blow up your positions!
In the current situation, the bears are wielding a 40-meter long knife, and the bulls are about to have their shorts stripped off; if we can't hold the 1838 lifeline, below is a bottomless abyss, friends, keep your hands steady, don’t become the one who catches the falling knife!
Are you trapped? When to catch the bottom? It's still the same saying, confused and helpless, don’t know what to do, drop a comment with your avatar. I need fans, you need references.
I will continue to ambush strong coins, if you want to follow the strategy🚙: 111
Pay attention to: Bitcoin, Ethereum, and some popular altcoins.
