Ethereum is now a trap set by big money!
Early this morning, Vitalik just finished discussing the Layer 2 progress, and the price surged to 2980, only to be smashed back to 2920 by a whale selling 25,000 ETH — this operation is quite slick; they are selling while placing buy orders at 2880 to pick up cheap goods.
Currently, the top ten addresses control 45% of the chips, and these people hold 68% of the concentration, equivalent to burying a time bomb at the 3000 mark, just waiting for retail investors to rush in and take over!
The MACD's golden cross looks lively, but the actual trading volume hasn't even reached 80% of the estimated amount, and the moving average system shows that the selling pressure over the past ten days is more severe than in the last five days.
The longer the volume contraction lasts, the more violent the explosion will be. Don't be fooled by the up and down spikes; the main force is reluctant to use real money to push the price up, yet they are also unwilling to sell at low prices, so they can only play the "painting door" trick to wear down people's patience.
Focus on two key points: first, changes in on-chain chips; second, a sudden increase in trading volume. Before these two signals appear, it’s better to miss out than to be cannon fodder!
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Subsequently, I will continue to ambush strong coins
Intraday focus: Bitcoin, Ethereum, rising altcoins