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The recent surge of Ethereum to 3008 saw many chasing long positions at the 3000 level, only to be caught in a sharp decline. Looking at the candlestick chart now, the mood is indeed not very good.
Having been immersed in this market for many years, I want to be straightforward: this rally to 3008 was a carefully orchestrated trap. The big players have already laid out a web above, waiting for retail investors to take the bait. Today, I’ll say this—3008 is not a signal of takeoff, but a warning of risk.
Why did it break through 3000 but fail to stabilize? The core reason is simple: the selling pressure above is too fierce. Look at how heavy the sell orders are; the big players never intended to push prices up genuinely. They are merely exploiting the psychological effect of breaking the 3000 integer level, eating up the stop-loss orders set by retail investors at 2985-2995, then reversing to short. From the candlestick pattern, if the high at 3008 cannot be closed above, it will form a classic "gravestone doji," which is a strong signal of a bearish entry.
So, how to operate now? When the price drops back below 2995, absolutely do not chase longs. Wait for a rebound to the 3000-3005 range, then decisively set up short positions with a stop-loss at 3015. First target 2950; if it breaks, 2920 is not a problem.
Here are two possible scenarios for the upcoming market:
**Main Scenario (about 75% probability):** 3008 is the high of the day. The price will oscillate between 2990-3000, wearing out your patience until you give up, then a large bearish candle breaks below 2980, directly initiating a downtrend.
**Alternative Scenario (about 25% probability):** If it can break through 3015, it may continue upward, but this is less likely.
In short, the short-term outlook is more bearish than bullish, with significant resistance above. Exercise caution.