ETH is stuck at the life-and-death line of 3560, with bulls and bears pulling so hard that veins are popping out, yet the volume looks like it has been choked!
Today's 1-hour chart shows ETH is all about the heartbeat! In the early session, a 'pin' shot straight down to 3353.51, causing the bulls to break out in a cold sweat. Fortunately, it didn't crash, and the price was forcibly pulled back to around 3560, trembling—this position has become the 'Maginot Line' that both bulls and bears must fight over. If it breaks, we look down to 3353; if it holds, there is a chance to catch a breath.
Focal question: Buy the dip at 3560 to fight for 3660? Old Bull says: It's risky! Three key mountains are pressing down:
3660 is a ghost gate! Looking at the chart, every time the price touches 3660, it shrinks back like it's been electrocuted, and above 3788 is a heavy disaster zone for trapped positions (corresponding to a 10-day moving average volume of 336,000 level). Without huge volume support, breaking through is purely giving away heads!
The rebound volume is broken! This wave pulled up from 3353, and the volume bars (red and green bars) have gone limp. This indicates that outside funds are watching the show, and there is insufficient confidence inside—the rebound without real capital is just a paper tiger!
The moving averages twisted into a pretzel! The yellow, purple, and gray moving averages are stirred into a mess (technical analysts call it 'consolidation'), and the short-term direction is unclear. The bulls and bears are playing Tai Chi here; betting on direction is easy to get slapped!
Old Bull's viewpoint: Fight for 3660 at 3560? The risk is far greater than the chance of winning!
Optimistic scenario: Hold 3560 and suddenly explode in volume (at least double the volume), strongly push to 3660 and stabilize. But 3788 is still a peak-level pressure.
Risk scenario: If 3560 is lost → secondary test of 3353. If it breaks again, panic selling could be no joke!
Is this 3560 defense battle for ETH a charge of the bulls or a hunting ground for the bears? Tomorrow morning, Old Bull's live stream will closely monitor two major data points: will the volume explode? Can the 3660 curse be broken? Follow Old Bull to penetrate the K-line fog and grab the turning point signal in advance!
