Currently in a sideways consolidation, with bulls and bears in a stalemate! Today ETH staged a 'grinding' market
Brothers, with Powell's remark of 'possible interest rate cuts in September', ETH jumped to the threshold of 4900 and even aimed for the 5000 mark, but the trading volume fell short—it's the 'wolf is coming' script again!
Now the price is stuck below 4748, with a 'big lid' of 4900 on top and a 'big support' of 4588 below, just like a sandwich cookie.
A委比+0.06% indicates that both buyers and sellers are waiting in the bushes, with the main force's orders densely packed yet no real money is trading; this market feels like waiting for a typhoon—you know it's coming, but you don't know when it will hit.
If you ask me, the main force is playing a 'fishing game'.
The chart clearly states 'buy more on the pullback', but seasoned traders know: a pullback might be an opportunity, but it could also be a trap! The morning session surged on good news but with shrinking volume, it's evident that the main force is playing the old trick of 'selling on good news'.
Look at the dense sell orders piled up below the 4900 resistance, doesn't it resemble a crowd of aunties blocking the entrance during a supermarket sale?—If they really wanted to break through, they should have increased the volume to lift the roof!
Today's key script focuses on two points:
False breakout trap: If it surges to 4900 with low volume, fasten your seatbelt—remember the 2019 false breakout that resulted in a 300 million liquidation disaster is still fresh!
Support orders turn into sell-off: The 'big support' at 4588 looks intimidating, but remember that before last year's LUNA collapse, the support orders were even thicker! Once it breaks, the 4441 defense line will surely be tested.
In terms of operations, I’ll share three nuggets of wisdom:
Don’t be a 'news retail investor': The expectation of rate cuts has long been chewed up by the market; if there's no price increase on good news, it's a risk signal!
Learn to 'place orders and wait': Set up short positions at 4900, test long positions at 4588, and set a 3% stop-loss as a protective charm. Remember 'don’t choose sides in a sideways market': entering the market now is like dancing on a minefield—wait for the direction to be clear before charging in!
Finally, here’s a hard-core observation:
On-chain data shows that a whale address secretly transferred 20,000 ETH to an exchange last night…
Want to know if the main force’s next step is 'pushing up and washing out' or 'dumping and netting'?
If you don't know what a valid breakout is, 关注缠敛主，页简，洁介绍
