Total settlement worth one billion dollars on Ethereum! Life-or-death disaster at 1700, will it retreat or plummet sharply?

Wan's opinion: A corrective rebound after overselling in the short term, but the bearish trend in the medium term remains unchanged, and the fate of buying or selling is determined at 1700.
The black geopolitical event sparks panic, Iran-U.S. negotiations fail, the Nasdaq and Bitcoin decline rapidly, and Ethereum drops to 1700.
Settlement charts show that breaking 1649 triggers a settlement of more than 4.8 billion, and below 1634 adds another 4.54 billion, turning 1700 to 1650 into a graveyard for bulls.
The relative strength index is above oversold at 25, indicating a need for a short-term rebound, but ETF has been continuously draining for 12 days, and on-chain activity has halved, putting pressure on the medium-term downtrend.
1730 has become a new pressure point, and the rebound will only be a double kill.
Wan's trading tips:
Light sell at 1725-1730, target 1700-1690, and if broken, watch 1680.
Stability between 1693-1710 could be a small opportunity to bet on a rebound, target 1735-1750.
Large geopolitical changes, if 1700 is broken, deterioration will occur; if not, there will be a pause.
The market hangs on the edge, do you bet on a rebound or follow the settlement flow?$BTC $GT $ETH