The Big Reveal of the Dealer's Washing Tactics! The Reason Behind Ethereum (ETH) Plummeting is Actually This...

Hello everyone, I am Xiao He.

Today, I was overwhelmed by two events:

First, the White House crypto summit was all talk and no action, failing to produce any real benefits, directly causing the market to plummet.

Second, last night's crypto summit only allowed us to watch a 20-minute live stream, and the rest of the content was directly encrypted, leaving the onlookers completely baffled. Truly, it is a crypto summit.

However, let's not make wild guesses; the more we guess, the easier it is to fall into a pit.

If we are to talk about the biggest controversy in the crypto world right now, it must be Ethereum. Everyone is speculating how low it can drop, after all, it is the 'big brother' of the altcoins; other little brothers dare not move if Ethereum does not rise.

But seasoned traders know that predicting prices is the easiest way to fail! Why? Because once you set a target price in your mind, you hesitate to buy until it reaches that price, and if it actually drops to that level, you become fearful and dare not buy, resulting in watching the market rebound while you regret not acting.

The most dreaded thing in trading is predicting prices because expectations create hesitation; if the market does not reach your expectation, you won’t act, and if it drops below your expected price, you are even less likely to act, which makes it very easy to miss out on future opportunities.

After hitting the bottom in June 2022, Ethereum consolidated for 504 days before breaking through; every subsequent dip did not break below the critical support level below, indicating that the strong support from the dense trading zone formed over the past 500 days is solid.

The bottom is built with real money; think about it, the dealer has spent so much time laying out their strategy, the cost must be significant. The dealer cannot lose money; if they were to sell at $4000, they would be left with nothing.

This recent drop is clearly a 'washing tactic'; in the last bull market, Ethereum performed exceptionally well, and many large investors bought Ethereum based on experiences from the previous bull market. The dealer needs to confirm whether this group will resonate with them, and they do this through washing tactics to scare away those who cannot hold onto their investments. The remaining ones are the 'die-hard fans' who can keep pace with the dealer's rhythm.

At the very least, those who remain won’t sell off when the dealer is pushing the price up, which is the consensus formed through the washing process.

Ethereum is like the Windows operating system on our computers; with an operating system, various applications (altcoins) can run.

So don’t be fooled by the current steep decline; the more intense the dealer's washing, the more explosive the subsequent rise may be.