Today I will share with you a classic case of continuously bottom-fishing Ethereum this month. In April, Ethereum lingered around the relative bottom of 1500 for half a month. At that time, I was not in a hurry to open an order because I didn’t know if it would drop further. As I mentioned before, none of my orders are based on predictions. Of course, the market analysis I provided in the past few days is just for your reference; all predictions are about verifying the accuracy of historical data and cannot accurately predict future trends. On April 22, there was a sudden surge, but I still didn’t chase it. In the following days, it consolidated sideways. Considering the bottom formation before the 22nd, I judged that from April 22 to the first few days of May, a classic 4-hour selling pressure test would occur. I set a Fibonacci 0.5 retracement as a stop loss and went in with a full position at 20x leverage. After holding for a few days, it remained choppy, with classic quick pullbacks and various spikes up and down hitting stop losses. I became more convinced of my judgment that this was a selling pressure test, and I held on for a few more days until a sudden surge successfully flipped my position. Of course, I don’t recommend you do this; actually, I don’t often do this unless your skills are better than mine, and you have to be bold, waiting for the right moment to act decisively, haha. This year, Ethereum allowed me to catch this wave of rise, chasing three orders in a row and rolling my positions. No matter what strategy you use or what theory your trading system is based on, remember that making money is the only standard to test a trader.

June 2, 2025, 8:30 PM, Current price: 2482.75 USDT

Today, the overall trend of ETH is in a short-term downtrend channel, with no effective rebound observed.

Repeated rebounds to the 2505~2515 area have been suppressed, which is a clear short-term resistance.

Currently, it is at the end of a weak downtrend range, and the bottom is not clear.

I do not recommend directly bottom-fishing, nor can one directly chase short positions.

There is a massive selling pressure between 2485-2495, which is unfavorable for rebounds. A short position can be attempted between 2505-2515.

Strong support is at 2450-2465, where a rebound can be attempted.

At this position, it is not a good point to take medium to long-term positions. The probability of going up or down by 1000 points is 50-50. I do not recommend directly taking heavy medium to long-term positions. Just take some small profits from the fluctuations, enter and exit quickly, preserve the principal, and wait for a suitable position before heavily investing in medium to long-term positions.