Mysterious giant whale crazily slashing the market! $ETH plummets 17%, is the mastermind behind it emerging?
ETH's price is stuck at 2424 for four hours, barely alive, with three death signals on the chart that must be heeded: First, after the MACD dead cross underwater, the green bars have continuously enlarged for four bars, and the DIF and DEA dual lines are down, clearly indicating that the bearish momentum is still accumulating;
Secondly, the three lines of KDJ are all crawling below 50, and the J value of 42.5 can't even touch the oversold zone, indicating no intention of a rebound at all; the most disgusting part is the so-called "strong support at 2420" has seen four consecutive false breakouts within half an hour,
each time after enticing buying, it gets smashed deeper, a typical method of market makers strangling contracts. In terms of operations, do not be fooled by small rebounds; my personal view is that 2420 will definitely be broken today, with the gap at 2380 acting like a magnet pulling the price down. For short-term players, if the price rebounds to the 2435-2440 area, enter short positions directly; for those holding spot positions, it is advisable to cut down to below 20% and just hold on.
The market is clearly waiting for the Federal Reserve to hawkishly announce tonight; remember that when the volume shrinks to the 70 million level, it's the calm before the storm. Those with high leverage should quickly reduce their positions and not be stubborn! Wait for the hourly line to explode with over 100 million in liquidation volume before considering bottom fishing.
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