The cryptocurrency world has gone completely crazy! In just one day, market sentiment surged to extreme greed!
ETH skyrocketed by 30% and can continue to rise, but who is foolishly chasing the highs? Actually, no one is chasing! It’s those idiots shorting who are going bankrupt in a frenzy! This group has been shorting ETH since it was at 3000, and now they are all getting wrecked!
Remember I mentioned this at the end of March? I wrote the wrong number then; it should have been tens of billions shorting ETH, and it was only a matter of time before it exploded. I initially expected it to blow up in April, but it ended up dragging into May before it did.
Here’s the key point: ETH at the 2425 position is a pressure point at the 0.382 Fibonacci retracement level, and it is highly likely to stall here. Those playing with altcoins might consider taking profits and waiting for a pullback to enter again. The altcoin season is definitely coming, and it won’t end in a day, but this surge has been too aggressive, and chasing highs now carries too much risk with too low of a cost-performance ratio.
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Pay attention during the day: ETH S BTC KAITO
