$ETH Five-Minute K-Line Bloodbath Scene: The Dog Dealer's Knife Leaves Many Corpses of Bulls
Staring at the five-minute K-Line of ETH, the Bollinger Bands opened like a guillotine, with prices stuck and rubbing against the middle-lower band for over 7 hours. After the death cross of MA5, MA10, and MA30, the bearish arrangement was formed, with the bearish candlestick driving down with 62,715 liquidation orders. The current price is firmly holding at 1731.40, and that 0.19% increase is purely misleading—every time it hits the 1725 area, the trading volume spikes instantly to 200K levels, and the dog dealer is unloading without even a fig leaf!
Technical Aspect: The liquidation line has turned red
1721.22 has become the coffin board for the bulls, while a buy order for 3000 ETH is hanging at 1720, but the futures market has 420 million dollars in liquidation orders, this level of defense is not even enough to warm up the bears. The MACD on the 15-minute level has crossed bearishly underwater for the second time, and the RSI value of 27.8 is skirting the oversold zone; breaking 1720 in this structure is the nuclear button. The upper level of 1741.83 has become a new resistance level; without a significant breakthrough at this position, any rebound is just a fishing line.
News Aspect: Triple Strike Blows Through the Floor
In the early morning, the US SEC postponed BlackRock's Ethereum ETF approval, directly collapsing market sentiment. The European Central Bank announced a 50 basis point rate hike in September, and large funds are frantically withdrawing from the crypto space to seek safety. On-chain monitoring detected a whale dumping 142,000 ETH to exchanges within 5 hours, this selling pressure is heavy, who dares to catch the falling knife?
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