Ethereum just took a sharp dive, plummeting from the high point back to the 4700 support zone, with 200 points evaporating in an instant;
It may seem nonsensical, but in reality, it is just a violent washout of high-leverage longs—news vacuum, pure capital behavior!
Those who have already taken long positions near the 4700 needle tip should hold on securely, with stop losses placed just below the needle. For those holding short positions, take advantage of this needle to reduce your position and secure your profits!
If you missed the needle, don't chase after the price while it jumps up and down; patiently wait for the hourly line to stabilize, and confirm support before adding positions.
Focus on the secondary retest of this needle in the early session; as long as it doesn't break down with increased volume, the bullish structure remains within expectations;
You can continue to enter long positions around the 4700–4730 area, targeting 4880 and the round number of 5000! $ETH
