3600 dollars cut tofu! The bulls are crazy, the bears are panicking, and retail investors are confused.
Recently, the Ethereum market can be summed up in one sentence: the bulls are crazy, the bears are panicking, and retail investors are confused.
Yesterday, the price broke through the 3600 dollar mark directly, and that big bullish candle on the 1-hour chart looked like a red-hot knife, cutting through the previous high of 3600 like tofu. The total contract position across the network surged to 50 billion dollars, with a liquidation amount of 549 million. The long-to-short ratio is 1:2. Seeing this data made me shake my head as bears started to jump off buildings collectively; the bulls are not far from taking over.
Martial Arts Perspective: Don't let emotions sway you, focus on two key numbers.
Let me share a real case: Last week, a fan told me that he missed the long position at 3400 and is now stuck chasing high at 3600. I asked him to send the liquidation order, and the result was an absurdly heavy position with 10x leverage. This is a typical FOMO mentality; seeing others make money, one rushes in without thinking, and ends up being the one left holding the bag.
My strategy is simple:
Bullish side: Wait for a pullback to 3550-3580 to enter lightly, with a stop loss at 3530. Why this position? Because the rising trend line on the 1-hour chart is here, and breaking below indicates that a short-term adjustment is starting. The target is 3650; after breaking through, 3700-3800 is not a dream, but don't be greedy; securing profits is the way to go. Bearish side: If it faces pressure around 3680, then short; stop loss at 3700. This position is a key resistance level; it was tested three times last week without breaking through. Now that the bullish energy is exhausted, the bears may counterattack.
Risk Warning: Don't treat leverage as an ATM.
Recently I saw some data: In July, single-day ETH ETF inflows reached 383 million dollars, institutions are bottom-fishing, but the retail leverage rate has reached a new high. Institutions are eating meat while retail investors are drinking soup; if leverage is not played well, even the bowl can be smashed. For example, yesterday, someone used 5x leverage to go long, and when the price pulled back by 100 points, it led to a direct liquidation.
Next Wednesday, the U.S. will announce CPI data. If inflation rebounds, the Federal Reserve may turn hawkish, and the crypto market could plummet at any moment. If you're thinking of bottom-fishing, first ask yourself three questions:
Have you set a stop-loss?
Is your position controlled within 20%?
Will you run when you see 3700?
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