Big G's Ethereum daily market watch: Manipulators sharpening their knives, retail investors run!
In summary: ETH is playing bungee jumping at the middle band of the Bollinger Bands, manipulators are sharpening their knives waiting for liquidations, retail investors should watch and not get too involved!
Technical analysis: High-level oscillation, longs and shorts cutting each other
Resistance level at $2580: The upper band of the Bollinger Bands is pressing down, the May peak of $2736 is like the top of Mount Everest, manipulators buried a massive amount of short positions at $2700, a breakout would be a fireworks show of shorts, but the MACD golden cross looks bloated, and the volume isn’t keeping up, resembling a fake move.
Support level at $2400: Old whales on-chain are secretly offloading above $2500, if the middle band can't hold, then look directly at the $2350 double bottom on the 4-hour chart, spike risk is full.
Liquidation warning: CME Ethereum contract holdings soared to $18 billion, institutional players bet on a midnight scare, beware of the $2300 long graveyard!
Big G's spicy commentary: In this market, the manipulators are playing tricks with one hand and laying traps with the other, will the violent rebound from $1730 in early May repeat itself?
News: ETF silence vs. Trump stirring the pot
SEC is up to tricks again: Ethereum ETF approval delayed, BlackRock secretly reduced holdings, Grayscale's positions continue to dwindle, but Trump calling for an end to the Russia-Ukraine conflict ignites the narrative of digital gold, XBIT exchange volume surges.
Vitalik's action: Layer 3 concept criticized as empty promises, gas fees have risen instead of dropping, the community is furious: technical benefits can't compete with the manipulator's scythe!
Risk warning: RSI is approaching the overbought zone, the disaster from $2736 to $1730 in May is still fresh, a profit-taking crash could lead to a bloodbath.
Classic case: At the end of April, manipulators exploded long positions after a false breakout at $2700, slashing down $1000 in three days, the historical script remains the same!
Today's strategy: No betting on sideways movements, take advantage of spikes.
Aggressive faction: Place a short order at $2580 for an ambush, stop loss at $2630, target $2400; if it spikes to $2350, can flip to long, stop loss at $2300.
Steady faction: Stand firm at $2550 with light positions to chase longs, clear positions directly below $2400, the market manipulators love to play tricks on CME delivery night.
Remember the mantra: Middle band sideways = manipulators sharpening their knives, bouncing up and down specifically targeting stop losses, the best approach for spot traders is to lie down and watch!
Tonight, keep an eye on the CME Ethereum delivery battle, will the manipulators explode shorts or slaughter longs? If you feel helpless and confused in trading right now, and want to learn more about the cryptocurrency space and get the latest frontline information, click on my profile to follow my introduction, so you won't get lost in this bull market!
