$ETH This trend is a typical high and low washout pattern!
Early morning violent pull: The main force directly ignited the price from $2759 all the way to the daily high of $2777 (notice how high this antenna is inserted!), the 15-minute MACD histogram soared above 17, a typical bullish short squeeze tactic. All short positions above $2770 were liquidated, and FOMO sentiment was completely ignited.
Midday high-pressure area grinding the top: The price is stuck between $2770 and $2777, but the trading volume shrinks (a single volume bar of $110,000 is below the 5-day average volume of $1.5 billion), exposing the problem — this is a signal that the main force has stopped feeding.
The dog dealer deliberately does not break through the high pressure level before $2780, letting the chasing funds become cannon fodder. At this time, the MACD's DIF begins to flatten, the bars shorten, and those with a discerning eye should reduce their positions!
At 18:15, that K-line directly smashed through the $2760 support level, closing at $2769.66 (down nearly $8 from the high point).
Pay attention: Volume increases but the price falls (volume increase stagnates then shifts to volume decrease), the委比 has collapsed from +0.63% to negative, indicating that the bulls have surrendered. Now the 7-day line at $2713 is the last cover, breaking it may trigger panic selling!
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