Brothers, pay attention! This wave with $ETH might be in trouble! The market looks a bit off; let me highlight a few key points:
Why are we bearish?
1. Technical indicators are weakening
Currently stuck around 1800, unable to move up. The 4-hour chart has tested 1800 three times without holding. The daily chart has formed a "descending triangle"; experienced traders know this pattern is likely to push downwards. If it breaks 1795, we could see 1750.
2. Large holders are collectively exiting
On-chain monitoring has detected two unusual things:
One large holder, who hoarded nearly 3000 of $ETH , cut losses and exited, losing over 4 million dollars.
The ETH supply in exchanges surged 17% in a week, clearly being dumped into the market.
3. Institutions are starting to withdraw support
Grayscale's ETHE fund premium has nearly dropped to negative 12%, while those from Linch are still crazily selling $WBTC . Traditional capital is clearly pulling out while still trading; let's not be the ones holding the bag.
Hu Ge's trading strategy👇
You can open a light short position near the current price of 1805~1815, with a stop loss set at 1855 (above the spike). The first target is to look at the 1790 round number; if it can't hold, we could directly see the 1750-1780 support area.
Remember to set a stop loss! In this market, the manipulators love to make moves in the middle of the night; don't get caught up in a sudden drop.
If you want to double your account, want to make big profits, want to successfully break even
Stay close to Hu Ge and position yourself ahead of the main bull market wave!