Attention! Ethereum hit the key level of 4660 faster than expected, what should we do now?
For long positions, consider two nodes: either wait for a strong bullish candle to break through 4660 and enter directly, or wait for a pullback to 4410-4450 to stabilize before entering.
For short positions, you can try the range of 4620-4660, but set a stop loss around 4680. Do not hold onto the position; once 4660 is broken with volume, Ethereum will likely surge to a new historical high, and short positions will be at risk. It is not advisable to stubbornly try to short at this level; if you really want to short, wait for a clear signal before proceeding.
What to do if you are already in a losing position? If the liquidation price is very close, first reduce your position to push the liquidation price above 4840, and patiently wait for a topping signal without rushing to add to your position. If the price difference has widened significantly, the reduced position can be replenished by 1/3 at a higher level.
Last night’s surge in Ethereum is likely due to multiple positive factors—new coin issuance + fuel from short position liquidations + strong buying pressure; those who were stuck between 3750-3950 have basically been relieved.
Key point: Do not chase longs around 4600, as it is easy to get stuck; either wait for a breakout to enter or wait for a pullback to enter. If there are no opportunities, just wait.
Bitcoin is still bullish; after surpassing 1205, as long as it does not break during a pullback or breaks with volume, it is very likely to reach a new high. However, pushing Bitcoin requires significant funds, and this money is enough to push Ethereum to 5000; let's see which side the institutions choose.
The rise of SOL is within expectations, with resistance above at 194-197. If it breaks, look for 205-207. If bullish, it should not fall below 187. For those holding 17x long positions, move the stop loss to 187 for protection and reduce the position by 1/3 to observe.
If you want steady compounding, I can help you earn USDT in this market, so you don’t end up like a blind leek, at the mercy of the market.
But as I always say, you must first have execution power; as the saying goes, a prodigal son never returns, even gods find it hard to save him.
