ETH's relentless rise without any significant pullback is actually a common tactic used by the main players.
The lack of a decent correction means they don't want retail investors to pick up cheap chips at lower levels, but instead push the price higher until you feel that "if you don't get on board now, you'll never have a chance again," allowing emotions to brew and FOMO to spread.
When you can't help but chase the highs, they often suddenly come in with a rapid pullback, shaking out those who chased the price up.
I'm still bullish on this wave of the market, but I am very clear — the main players have their calculations down to a fine art, targeting a range around 4800-5000. Once it reaches that level, there’s a good chance we’ll see a deep pullback of around 30% to test the lows.
The reason is simple: such a high cost of pushing up the price makes it hard to maintain high levels without a correction. The main players are after profit, not charity.
So I advise everyone not to rush, wait for a pullback to a suitable position before getting in; that is the best time to profit.
Focus for the day: CYBER SKL HIFI MLN THE
