Brothers! Last night's ETH crash was simply exhilarating! It dropped from 2550 to 2363, a $200 loss came out of nowhere, more thrilling than a roller coaster! 😱
【The Truth Behind the Crash】
1️⃣ The Technical Side Couldn't Hold Up Anymore
The price at 2550 failed to break three times
It's like chasing a girl and getting rejected three times; going for a fourth time is just asking for pain, right?
The RSI indicator had already given a warning (new price high but the indicator is declining)
2️⃣ The US Stock Market's Fatal Blow
As soon as the US stock data was released, it plummeted by 400 points
ETH is now in sync with the US stocks (90% correlation)
When the big institutional players saw the situation, they immediately sold off and fled
3️⃣ A Massive Sell-off of 5000 ETH
A large order of 5000 ETH appeared on Coinbase
This is not something retail investors can do! Clearly, institutions are running for their lives!
【How to Play Next?】
Now 2360 is a critical position:
✅ If it holds: a rebound might occur
❌ If it doesn't hold: straight down to 2300
Veteran's Advice:
Keep an eye on the US stock market tonight
If 2360 holds, you can try a small position
If it breaks with volume? Fasten your seatbelt!
Lastly, to be honest:
The more panic in the market, the more opportunities arise!
But don't get too carried away; controlling your position is the most important!
If you're ready to watch the market tonight, hit 1
If you think ETH can still be saved, hit 2
