Has the Ethereum wash trading ended?
Starting from 10 PM on the 12th, Ethereum surged from around 4150, reaching 4200 by 10 AM. Many people thought it would directly crush the bears, but—4200 encountered resistance and fell back, now it's consolidating around 4160.
Many people are starting to panic:
"Is this a high and then a drop?" "Has the wash trading ended? Can we still go long?"
Currently, there are three obvious characteristics: 4200 is a key resistance level.
There have been multiple attempts to break through but the volume is insufficient, and short-term bulls are starting to reduce their positions.
It has fallen back but hasn’t broken the structure, now it's repeatedly consolidating at 4160, which is a typical trend of wash trading + accumulation, the bears haven’t formed a trend, it's just emotional selling.
The key support below is in the 4120—4135 range.
If this level does not break, the trend is still under the control of the bulls, and the decline is more of a baiting behavior.
This wave is neither a waterfall drop nor a direct strong surge—it's a standard controlled wash trading rhythm.
Watching the market without a strategy = a blind person groping for the road.
Aggressive traders: try long positions lightly at 4160—4172, stop loss at 30 points, target 4250.
Conservative traders: wait for a pullback to the 4135—4120 range to enter, steadily profit from the rebound.
Reminder on the reversal point: if it breaks below 4100 with increased volume, shift to a short strategy, don’t hesitate, don’t stubbornly hold on.
The market always rewards those with plans, while it punishes those who are emotional.
Those who don’t understand the trend are either shorting at the bottom or going long at the peak.
I have already set up two plans here, and tonight I will only take one side, getting a clean bite of the profit and leaving.
If you want to follow my rhythm this time, just say one thing: need a plan.
