Mig sees through the K-line; behind the code is human sentiment. Tonight's ETH market has reached a critical juncture that gets the blood pumping — will it break upwards, or will there be a sharp drop and correction? I'll unravel it for you, deeply interpreting from three dimensions: news, technicals, and liquidation charts!
Technical aspect: a death cross is looming, but is the key level of 4785 a reversal signal?
Currently, the 1-hour K-line shows that ETH has dropped from the middle Bollinger band to the lower band, showing a death cross state, with short positions in the short term dominating.
But beware — the key level is 4785! This is the dividing line between bulls and bears. If it breaks out with volume, the market is likely to surge directly to the 4890 resistance level, or even higher.
The strong support below is at 4656. If it breaks, it may trigger a chain liquidation, accelerating the decline.
However, from the data on the order book, the委比 is still positive (+0.21%), with large buy orders placed around 4439, indicating that large funds are secretly supporting the market.
The concentrated area of major orders is between 4656-4665, this is the focus of short-term speculation.
The liquidation heatmap reveals secrets: a large number of short liquidation zones are accumulated above!
The Binance ETH/USDT liquidation heatmap shows a huge accumulation of short liquidations in the 5100-5200 area (with very high strength), which means once the price breaks the key level, the short squeeze will accelerate the upward movement!
And the 4400-4500 range below also has a dense area for long liquidations. If it breaks the support, it will trigger a wave of liquidations for the bulls.
The exchange liquidation map is even clearer: the current price is 4427.9, but there is a liquidation strength of over 178 million short positions in the 4900-5100 range above! This is the potential 'rocket fuel.'
Once it starts, the short liquidation will boost ETH's violent surge.
There are undercurrents in the news: ETF expectations + ecological benefits are still present!
Although the short-term technical outlook is bearish, don't forget:
The Ethereum ETF is expected to pass through a new round of reviews soon;
The activity of the Layer 2 ecosystem continues to rise, and lower Gas fees are promoting on-chain activities;
Whale addresses are still accumulating, and large funds have not exited the market.
The news still supports the bullish logic for the medium to long term.
Mig's view: I see a breakout, but it must come with volume!
I personally believe that 4785 is the key.
If the hourly chart closes firmly above 4785, I will decisively chase longs, targeting 4890→4950→5000+.
If there is a false breakout without volume, or if it falls back below 4656 again, I will stop loss and wait.
Remember: the market is always born in despair and rises in hesitation.
Are you going to be the hunter laying the groundwork in advance, or the retail trader chasing highs and cutting losses?
Blind operations = losses! Follow Mig closely, learn professional thinking and strategies, and say goodbye to trading based on 'feelings'! Click on the profile picture, change starts with following!
