Plummeting 50%! A giant whale sold 100,000 ETH in the early morning, what secret lies behind it?

The crash is like a landslide, and bottom fishing is like pulling silk—ETH's four-hour chart reveals a 'death spiral', where is the mystery hidden?

1. Latest news: Double blow from regulation + on-chain!

1. SEC surprise inspection: This morning, foreign media reported that the US SEC has raised the question of 'whether Ethereum is a security' again. Although there is no conclusion, the market panicked, BTC broke 90,000, and ETH followed suit.

2. Giant whale sold 100,000 Ethereum in the early morning: On-chain evidence shows that a major account deposited 100,000 coins (about 140 million dollars) to Binance at 3 AM, either institutions are cutting losses, or they smell blood in the water.

2. Technically: Three steps to analyze the crash logic!

1. Price: No resistance breakdown, shorts are celebrating, breaking through the three major support levels of 1750, 1700, and 1600. No rebound on breakdown = retail investors cutting losses + main players fleeing; 1785 becomes the life-and-death line, losing it could see 1300 (last year's bottom) or even 1000 dollars (psychological crash point).

2. Trading volume: Shrinking bearish decline, retail investors playing dead, current trading volume is 359,000, compared to the 5-day/10-day average (850,000/910,000) directly halved. Volume-price divergence indicates no one is taking over, bulls can’t even pull out a 'dead cat bounce', who dares to bottom fish?

3. MACD + Moving averages: Death cross confirmed, a rebound is a trap, MACD: DIF (10.01) crosses below DEA (13.00), the histogram should be negative but shows positive values, confirming a continuation of the downward trend.

4. Moving averages: MA5 death cross MA10, prices are compressed into a pancake by the moving averages. Remember, a bear market rebound to moving averages = signal for shorts to add positions!

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