Just after 9 AM this morning, the on-chain data of the crypto market suddenly exploded! A mysterious giant whale launched a surprise attack on Binance with a full 9000 ETH. This is not a small amount; the acquisition cost of this batch of ETH was only 3027 dollars. If they sell all of it, they could directly pocket a net profit of 2337 million dollars!
If it were a normal situation, such a large sell-off would have caused the price of the coin to drop like a kite with a broken string, but this time it went in the opposite direction: ETH not only didn't collapse, but it also firmly held the 4610 level, and there was even a vague momentum to push upwards.
The logic behind this is actually quite straightforward; the buying power behind it is simply too strong. The bullish sentiment in the market cannot be suppressed at all. Even if there are giant whales selling, there are always people ready to buy and support the price.
However, it's important to remind everyone: just because whales transfer ETH to exchanges doesn't mean they will sell immediately.
It could be for future hedging, or it may be preparing for risk management. After all, players at this level won't make random, unplanned moves.
So everyone mustn't blindly follow trends just because of large transfers; whether chasing longs or shorting, you must first clarify the market logic.
Let's analyze the current ETH trend from a technical perspective. There are three key signals hidden in the 1-hour candlestick chart; understanding them will help you catch the rhythm.
The first is the strong support line: Today's lifeline for ETH is at 4542, as long as it doesn't break this level, it won't be considered a breakdown in the short term; while the more stable strong support is at 4415. If it can really pull back to this range, it might be possible to buy in batches, significantly reducing the risk.
The second is the bullish support action: today ETH has surged several times near 4650; even if there is a brief pullback, it hasn't broken through the key point, which clearly indicates that the main force is supporting it from behind. You must know that if the main force lacked confidence, they would have let the coin price drop long ago. This repeated resistance actually conveys confidence to the market.
The third is tonight's target level: the most critical point now is at 4610. As long as it can firmly stand above this, the probability of breaking through 4700 tonight is very high, which could mean an increase of about 100 dollars. Everyone can watch the candlestick chart; if the price can stay above the support level at closing while the trading volume is increasing, that would be a relatively reliable entry signal, so don't hesitate too much.
Finally, let me share Xing Ge's exclusive operation suggestions: whether in short-term or mid-line trading, they are worth referencing.
Short-term players: You can lightly try going long near 4610, setting the stop loss at 4580. This stop loss level is crucial; if it breaks, it indicates that the short-term bulls are losing power, and don't hold on stubbornly.
The target can be seen at 4680 to 4700. Once the target is reached, take profit in a timely manner; securing profits is the safest approach.
Mid-line players: Don't rush to enter the market, wait for a pullback to 4542 before adding a position; if you can wait for the strong support level of 4415, then you can heavily buy the dip, as the safety margin at this position is higher and there is more room for subsequent rebounds.
Lastly, I want to emphasize again: no matter what operation you do, always set a stop loss! Never hold on with the mindset of 'it will come back if I just hold on'. The crypto market is volatile; once the direction is wrong, not setting a stop loss can lead to significant losses. Protecting your principal is essential for playing in the market for the long term.
Follow Xing Ge, using on-chain data to tear apart the project party's bottom cards, taking you to snatch food from the jaws of whales!@星哥狩猎日记
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