There are sell orders all above Ethereum, and buy orders are sparse below. The main force has no intention of sweeping up goods at all. Every time it moves up, it fails to reach the previous high, and after the rise, it drops back down, a typical "false rebound, real unloading";
Key supports are being pulled out one by one, and now it's all resistance levels. Whoever tries to push up gets crushed. The on-chain data is also bleak, with big players transferring to exchanges while retail investors are still fantasizing about bottom fishing, a typical "chips being handed over upwards";
In short: Don't get itchy fingers, don't bet on the bottom, short it or stay on the sidelines, and wait for a big bullish candle with significant volume before considering a turnaround. If you rush in now, 90% will be stuck halfway up the mountain!
Personal trading advice: Short near the rebound to 4200–4230, with targets at 4100, 4030, 3950! $ETH
