Tonight's market is likely to experience a volatile rebound.
ETH has just experienced a violent drop, crashing from 2879 to over 2400,
the longs below have been thoroughly washed out,
and now it is moving sideways, digesting the profits of the shorts.
In simple terms— the washout of the longs has ended, preparing to lure in the shorts for harvesting.
There are a lot of stop-loss points for the shorts above,
once there is an increase in volume, it could easily trigger a stampede upwards.
This current situation is called the 'lure the shorts, volatile rebound' structure.
Shorts shouldn't be greedy, don't think it can keep falling;
Longs can take a small position to bet on a rebound, but stop-losses must be set properly.
In a volatile market, what matters is not courage, but discipline,
faith is useless, holding onto positions is equivalent to giving away money.
