How to play ETH tonight? I've clarified the market trend!
Today's market is just going back and forth to 'wash' people.
First, it kills the long positions, then it forces the shorts; those who are heavily invested or hesitant will be harvested.
2450-2480 is the largest liquidation zone for longs. Last night's bearish candle went straight down, wiping out all the long positions below, and the volume exploded.
Now the price has rebounded to 2550, sitting in between two key ranges:
Above is the short liquidation pile at 2600-2650; as long as it breaks through, this group of shorts will basically explode.
The current market rhythm is very clear:
The price is oscillating back and forth between the liquidation zones, a typical oscillation forcing the positions.
My trading idea for tonight:
Don't chase the longs anymore; the pressure above is heavy and it's easy to get a spike down.
Buy on the dip; 2480 is the funding defense line below. Wait for a pullback to lightly position and set the stop loss at 2450.
Try shorting at high positions; if it pushes up to 2610-2630, see if there's volume. If there's no volume, short lightly with a target to see a drop to 2520.
Don't go heavy; don't cling to the battle. This position is just for making a spread; get in and out quickly.
Trade the range of 2480-2630; don't think about getting rich overnight, just take the profit and leave.
Whoever has the right rhythm makes money. Whoever hesitates or is greedy just gives money to the main players.