Ethereum took a big plunge last night: This is not a collapse, it's a wash!
Ethereum's performance last night can be said to have played with people's emotions to the extreme.
At 12 o'clock, it surged to 4800, and in the early morning, it touched 4957,
the sentiment was ignited—everyone online was shouting that 5000 was coming.
But just at the peak, there was a sudden brake, and it was slammed back to 4700.
Many people panicked, thinking the market was going to collapse.
But if we look calmly, this is not a collapse at all, but a standard washout action.
Why?
The volume hasn't distorted: the drop has taken away short-term floating positions, not a retreat of the main forces.
The trend hasn't been damaged: the daily structure is still upward, just intentionally shaking off the high-flying positions.
Utilizing sentiment: When the market cries for 5000, the main forces love to "let you see it, but not let you take it."
Subsequent strategy:
1️⃣ Short-term: The 4700 level is key support; if it holds, you can buy on dips; if it breaks, wait for better points below.
2️⃣ Medium-term: The target remains unchanged; 5000 is just a matter of time, not a matter of direction.
3️⃣ Positioning: A 30-70 distribution; small positions lead the way, large positions wait for confirmation, don’t go all in hard.
In summary:
Last night was not a market collapse, it was the main forces washing out.
Those who can hold on will be able to laugh in the end.
The cruelest rule in the crypto world:
Price is just a number,
Whether you can survive determines if you are a "winner" or "chives."
