Brother Tong 7.1 ETH Ideas

$ETH Short near 1585-1600, stop loss above 1620, first target 1550, second target 1500

This morning, Bitcoin broke below the 58000 level early on, and overall market sentiment has clearly weakened. However, Ethereum’s (second coin’s) lowest pullback only touched around 1552 before rebounding, and it is still trading above 1570.

This move shows that Ethereum is indeed more resilient than Bitcoin in the short term, and there is also relatively stronger support underneath. But “resilient” doesn’t mean it’s turning strong, and it definitely doesn’t mean it’s reversing.

The support around 1550 has temporarily held up, but what truly determines the next direction is whether there is sustained capital willing to step in and take the lead upward. With support but no breakout, it’s more still operating under a range-bound consolidation and repair logic.

Many people see that it can’t fall further and then start imagining a move higher. But the most common situation in the market is exactly this: when it can’t fall, it doesn’t mean it will rise immediately; when it can’t rise, it doesn’t necessarily mean it will fall right away. #特朗普披露持有超1亿美元BTCETH