Today we change our mindset. The selling volume on the heat map between 2670-2680 is very dense, especially at the 2680 line. The structure of the ascending triangle is also about to be broken. Apart from the short-term influence of news, regardless of whether it goes up or down, it's a 50-50 chance. So let's open our minds from the existing data. The liquidation map also shows that there are over 70 million dollars in shorts waiting to be liquidated in this area.

We can consider this area as a strong resistance zone, which is also the previous high point after the formation of the triangular structure. In the past week, the pressure at the top of the triangle has basically been tested every day. The more times it is tested, the less effective the pressure becomes. When everyone reaches this consensus, do you think Ethereum will break upwards? Definitely, but it will be a false breakout.

After the false breakout to the 2670 line that evening, the large sell orders from whales were activated, the shorts at the bottom were liquidated, and there was no upward momentum left in the market. Subsequently, there will be a sharp drop that takes out the retail investors who are bullish after the breakout. Ethereum is focusing on 2670-2690, with a defense at 2730, and a target looking at 50-100$ETH