ETH Hundred-Billion Liquidation “Nuclear Bomb”! 1,700 Life-or-Death Crisis — Rebound or Waterfall?

Brother Wan’s View: A short-term oversold rebound, but the medium-term bearish trend remains unchanged—1,700 will decide the fate of bulls and bears.
Geopolitical black swans sparked panic: US-Iran negotiations broke down, the Nasdaq and BTC plunged, and ETH got smashed down to 1,700. Liquidation charts show that falling below 1,649 triggers liquidation of over 480 million positions; below 1,634 adds another 454 million. The 1,700–1,650 range has become a graveyard for long positions. RSI is oversold at 25—short-term pullback/rebound demand is strong. However, ETFs have been withdrawn for 12 days, and on-chain activity has been slashed by half, keeping medium-term bearish pressure in control. 1,730 has become new overhead pressure—if the rebound can’t get through, it will turn into a second squeeze.
Brother Wan’s Trading Suggestions:
Short-sell lightly at 1,725–1,730; targets are 1,700–1,690. If it breaks down, watch 1,680.
Only if 1,693–1,710 stabilizes can you take a small position to gamble on a rebound; target 1,735–1,750.
With geopolitical variables in play, if 1,700 breaks, it will trigger a stampede—if it doesn’t break, you’ll get a breather.
The market hangs by a thread—will you bet on a rebound, or follow the liquidation flood?
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