Mysterious Whale's Frenzied Sell-Off! ETH Plummets 17%, Who's the Mastermind Behind It?
ETH's four-hour chart is stuck at 2424, seemingly stagnant. Keep a close eye on these three dangerous signals on the chart:
Firstly, after the MACD death cross below the water, the green bars have been extending for four consecutive periods. The DIF and DEA lines are widening downwards, clearly indicating that the bearish momentum hasn't been exhausted yet.
Secondly, the KDJ lines are all pressed below 50 and moving slowly. The J value is only 42.5, not even touching the oversold zone, and there's no sign of a rebound. What's most annoying is the "2420 strong support" area. There have been four fake breakouts in half an hour, and each pull is followed by an even harder smash. The market maker's contract manipulation is too obvious.
In terms of operation, don't be fooled by small rebounds. I think 2420 will definitely be broken today. The gap below at 2380 is pulling the price down like a magnet. Short-term traders should short directly at 2435-2440 on the rebound. If you have spot holdings, it's best to cut them to below 20% to stay safe.
The market is now waiting for the Fed to release hawkish signals tonight. Remember, when the trading 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 hold on stubbornly! Wait for the hourly line to show a liquidation volume of over $100 million before considering buying the dip.
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