ETH 800
Despite the continuous decline in ETH prices, the open interest in bearish options across the network has increased by 23% against the trend. The core logic behind bears not choosing to take profits but instead continuing to increase their positions is based on the historical path of ETH during the last bear market, where it fell from $4860 to $882 (a decline of about 80%). If we calculate using the same proportion, the theoretical bottom for this bear market points to a level of $820. This means that the current price correction has only completed 60% of the theoretical decline, and most trend bears determine that the market is still in the mid-stage of a bear market.
Will Ethereum really drop to 800?
The answer is very likely. Currently, Ethereum has already fallen below 1500, and a drop of 600 points is quite possible.
At this time, our strategy remains unchanged, and the bears will continue.
Following General Tang's strategy, we have continuously been on the path of floating profits, continuously profiting.
However, some fans are facing a loss of 80,000 dollars and are still on the road to recovery, getting further away. I am really worried that once they get liquidated, there will be no room for maneuver.
Daily focus: unc, kyve, mini, trcl
