Tonight at 8:30! The epic battle of Ethereum begins: the last oxygen tank for the shorts is about to be pulled out!
Jobless claims data becomes the fuse for the bull-bear showdown:
Tonight at 8:30, the initial jobless claims data for the week in the U.S. will be released! The market expectation is 215,000; if the data exceeds expectations, the Fed's rate cut expectations will rise again, the dollar will weaken, and risk assets will experience a new round of explosive growth! As one of the leaders of this bull market, once ETH breaks the historical high of 4800, the scale of short liquidations on major CEXs will reach 2.218 billion USD! What does this mean? — A bloody massacre awaits the shorts!
4669 Spike Exposes Short Cards:
At 6:30, ETH briefly spiked to 4669 but quickly rebounded to around 4710, which is a typical short trap! On the 4-hour level, the EMA moving averages are in a bullish arrangement, MACD has temporarily shrunk but hasn't crossed, and RSI remains in a strong range, indicating that there is no real selling pressure in the market, just some short-term profit-taking and the last struggle of the shorts!
Key Levels:
Breaking 4800: The shorts' defense line completely collapses, FOMO sentiment erupts, and ETH will enter a frenzy of rising prices!
Support 4650-4680: Bullish stronghold, as long as it doesn't break, pullbacks will be an opportunity to enter!
Qing Yao's view: 4800 USD is the 'Cinderella moment' for the shorts
Those shouting 'ETH has peaked' are like Cinderella's fairy godmother still at the ball after midnight — the moment 4800 USD is broken, all technical analysis will become invalid, and the market will enter a pure FOMO-driven emotional state. The spike at 6:30 has already exposed the shorts' cards: they can't even hold 4700 USD, so how can they hold 4800?
Qing Yao's suggestion: Dance on the shorts' grave
Holder: Hold your positions steady, don't be washed out by short-term fluctuations!
Onlooker: Around 4700 remains an excellent entry point, chase the rise after breaking 4800!
Shorts: It's advised to close positions quickly, or tonight will be your funeral!
Remember, when the clock strikes 8:30, the market will send the shorts off with a surge!