ETH Drops to 4200? The Bear Party Has Just Started!
ETH's morning performance was like a drunken man, stumbling from 4500 all the way down, just a step away from a waterfall-like plunge.
Current price 4250, seemingly stabilizing, but in reality, the bears have hit the brakes on this wave of downward trend which is far from over, instead resembling a suspense drama playing in fast forward, with the climax yet to come.
Market sentiment: A short-term rebound does not mean the end; rather, it is building momentum for the upcoming decline.
The Bollinger Bands are starting to widen, and the KDJ death cross has formed, with the bearish atmosphere gradually thickening. The current price range is precisely where the bears are concentrating their attacks.
Next steps for positioning:
Short opportunities: Any rebound to the 4250~4300 range can serve as an entry point for short positions.
Targeting lower: 4200~4100, or even the 4000 range is possible.
Conclusion: This wave of decline is not over; the appetizer for the bear feast has just begun. If you are still eyeing 4200 hoping to catch the bottom, you might have missed the biggest profit opportunity. The current 'rebound' is merely bait for the bears.
The bear party has just begun!
Want to know more about cryptocurrency news, want to find out the direction of the next market wave, stay in tune with the rhythm, flip and feast!!!
