When the market crashes, smart people see not risk, but discounted chips.

This morning's ETH flash crash scared many newcomers into selling at a loss. The price plummeted from 4450 USD to 4278, a drop of over 4%, leading to cries in the community. But those who understand the market realize—this is not a crash! It’s clearly a textbook washout tactic played by the main players using 'Old Chuan's mouthpiece + unlocking pledges' as a pretext!

1. The truth of the crash: two old news stories packaged as 'nuclear-level bearish news.'

1. The so-called 'Old Chuan's bearish news' is just regulatory jargon he has been repeating for half a year. It’s like the village loudspeaker shouting 'fire prevention and theft prevention' daily, and today someone suddenly shared it as news with a 'heavyweight!' headline. Institutions have already digested these expectations and are just waiting for retail investors to scare themselves.

2. The panic of unlocking pledges — on-chain data clearly shows: 23,000 ETH unlocked, which is not enough for the whales. The same script played out last month, resulting in 80% of the coins being automatically re-staked after unlocking. This time it’s just the operator serving up the same dish on a different plate.

2. Decoding the main player's tactics: three key signals during the crash.

1. Precisely hit the support level.

What position is 4278 USD? It’s the 4-hour Bollinger middle band + the life-saving line of the last three pullbacks. When the price fell here, it was immediately supported, indicating large funds are secretly bottom-fishing.

2. Panic volume does not carry over — the volume spike during the night has already retraced when the Asian market opened. A typical tactic of 'kill retail investors at midnight, pump during the day.'

3. The futures liquidation leaderboard reveals that during the crash, only small long positions were liquidated, while institutions and large traders had already closed their short positions. It's like a casino allowing retail investors to place bets, then suddenly changing the rules to take the chips.

3. Practical operation guide.

✅ Bottom-fishing party:

Establish a bottom position at the current price of 4320, and add 10% more for every 50 USD drop.

Remember two key defensive levels: 4250 (trendline support) and 4200 (30-day moving average).

✅ Contract party:

Break above 4360 can be a light long position, stop loss at 4280.

If it breaks below 4250, go short, but exit with a 30-point profit.

✅ Buddhist party:

Open the staking interface to see a 5.2% annualized return.

Close the trading software; eat and drink as you should.

In a bull market, a sharp drop is not a risk; rather, it’s the market issuing coupons. Those monitoring the ETH 2.0 upgrade and ETF progress know that ETH below 4500 is like an iPhone on sale during Double Eleven—getting it means profit. Those who panicked and sold early in the morning will probably be crying and chasing the high in the afternoon...

Did you bottom out at 4278? Share your trades in the comments and see who the real contrarian indicators are. Follow me for daily analysis and precise intra-day trading strategies, check the homepage for details.