ETH 2900: The Last Breath of the Bulls

Just sent off Lao Li, he looked ashen.
Today, he asked me eight times: “$ETH 2900 can hold?”
I saw him trembling, poured him a cup of hot tea, and only said one honest thing:
“Cannot hold.”

Many people stubbornly hold on at this level, betting on “long decline, then rise.”
But in the eyes of institutions, 2900 is not a bottom, it’s a fat piece of meat.
Looking at the market, everyone is watching 2900.
Retail investors are placing long orders here, big players are betting on a rebound.
This means that below 2900, it’s densely packed with stop-loss orders.

For the main force, as long as they slightly smash through this layer of paper, they can trigger chain liquidations and scoop up cheap blood-stained chips.
This isn’t cruelty, it’s liquidity.
If you are the main force, would you let this feast go?

The current 15-minute level, that sluggish sideways consolidation, is not a sign of stopping the fall.
That’s the bears fueling up at the gas station, preparing for the next acceleration.
This pattern, in our jargon, is called “resting during the descent.”
Rest is over, and it must continue downward.
In the current market, not going long is the way to profit.

Direction: Follow the trend and go short, don’t be reckless trying to bottom fish.
Script (the reward for patience):
Don’t chase shorts now; risk-reward ratio isn’t good. Wait for a rebound. If the price can return to around 2970.
Action: Continue shorting.
Reason: This is the trench where the bulls just suffered defeat; now it’s the stronghold of the bears.
Stop-loss (defense): Set at 3025. If it can strongly regain above 3000, it means I was wrong, and I’ll cut losses.
Target: 2910-2868

For those holding long positions at the current price:
Reduce positions on the rebound, keep the green.
The most expensive tuition in trading is paid during “bottom fishing.”
When Lao Li left, I gave him a box of Yancha (rock tea).
Hope it helps him cool down.
In this market, surviving longer is a thousand times more important than making quick profits.

Is your current position in the red or green? Share in the comments.