Is a major correction in ETH really here? Exclusive technical analysis reveals key points for going long and short!
ETH has not fully entered a major correction yet, but warning signs are already present! Two spikes to $4450 indicate that market makers are clearly testing support by pushing prices down. If it effectively breaks below $4450, a correction is highly likely to begin; if it holds, there may still be a rebound. When trading, one must keep a close eye on key levels, or risk liquidation!
Technical details:
Battle of the trendline: The upward trendline launched from $3600 currently supports around $4450. The two spikes to this position indicate that bulls are holding firm, but the bears are intensifying their attack. If it breaks down, the trend will completely reverse.
Market maker tactics exposed: The current price is oscillating around $4450, clearly indicating that bears are testing the bulls' bottom line. If it breaks, the depth of the correction will depend on the bulls' ability to buy the dip, just like the previous surge was the result of bears capitulating; the depth of the correction will be similar.
Short-term long strategy: Want to play for a rebound? Lightly position long near $4450, but set the stop-loss below $4420! This range is a common stop-loss area and is easily targeted by bears for a precise sweep.
Bear trap warning: A major correction will always have a “false breakout” first! The main force may first plunge → consolidate → then surge above $4600 to capture liquidity before crashing down. Short sellers who chase orders at the next high point are very likely to get stopped out.
Personal trading experience:
Last year, when BTC was at the $60,000 top, a similar script of “spike testing support + false breakout surge” occurred, ultimately leading to a 30% crash. The current movement of ETH is highly similar; $4450 is the first line of life and death, and $4600 is the minefield for bears!
Summary:
ETH has not confirmed a correction, but the risks outweigh the opportunities. Aggressive traders can lightly position long with strict stop-losses, while conservative traders should wait for a break below $4450 or a rebound to $4600 before going short.
Remember: Trend traders always respect key levels!
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