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Today Erbing wants to remind everyone: don’t blindly bottom-fish.
Erbing followed Daybing down all the way last night. The support around 2250 is very weak right now. The rebound to 2293 had no more strength, and the 2300 level simply can’t be pushed through.
From a technical perspective, the overall picture is a weak downward trend, and all indicators are bearish signals—so the risk of bottom-fishing is very high.
A steadier approach:
Wait for the rebound to come back near 2300 before considering shorting,
first look at 2220 as the target; if it breaks, then watch for 2150,
set your stop-loss properly—don’t hold positions through it.#ETH