ETH now clearly shows a breakdown and downward trend, with the bears fully in control. Don't even think about bottom fishing.
The market signals are very clear: the price has directly broken through the key support at 2140-2160, the structure has completely turned bearish, and market sentiment is already panicking. The bulls are basically powerless.
Key levels to watch closely:
Rebound resistance zone: 2120-2140, this is the limit of the rebound and the most comfortable shorting area. Support below first looks at 2050-2070, further down is the 2000 integer level, the lifeline.
In terms of operation, just one sentence: don’t mess around. For those holding long positions, exit directly when the price rebounds to 2120-2140, don’t hold onto illusions. If you want to short, wait until the rebound reaches this zone and shows signs of stagnation, then short with a stop loss above 2160. Don’t hesitate.
Remember one iron rule: until the price stabilizes above 2140 again, firmly do not go against the trend to bottom fish.
To sum up: at this stage, only short, not long. The key is to wait for the rebound at 2120-2140 to create an opportunity to short.
ETH now clearly shows a breakdown and downward trend, with the bears fully in control. Don't even think about bottom fishing.
The market signals are very clear: the price has directly broken through the key support at 2140-2160, the structure has completely turned bearish, and market sentiment is already panicking. The bulls are basically powerless.
Key levels to watch closely:
Rebound resistance zone: 2120-2140, this is the limit of the rebound and the most comfortable shorting area.
Support below first looks at 2050-2070, further down is the 2000 integer level, the lifeline.
In terms of operation, just one sentence: don’t mess around.
For those holding long positions, exit directly when the price rebounds to 2120-2140, don’t hold onto illusions.
If you want to short, wait until the rebound reaches this zone and shows signs of stagnation, then short with a stop loss above 2160. Don’t hesitate.
Remember one iron rule: until the price stabilizes above 2140 again, firmly do not go against the trend to bottom fish.
To sum up: at this stage, only short, not long. The key is to wait for the rebound at 2120-2140 to create an opportunity to short.