Escape rally candlestick! ETH is about to "paint the door" and drop. $1600 is the bear's stronghold.

ETH is now rebounding to around $1600. This is not a rally, it's the final "bull trap." Institutions are fleeing like crazy. Don't be fooled into buying this candlestick.

News: Institutions are running, no one is supporting the market.

Crypto stock CRCL plunged 17% to an all-time low due to being removed from an index and competition from peers. Even worse, major institution FGNexus lost $86.6 million and is liquidating all of its 50k+ ETH holdings. With major players cutting losses at any cost, how can ETH rise?

Technical analysis: The trend will turn downward.

On the daily chart, $1600 is a solid top. On the 4-hour chart, it's forming a symmetrical triangle. The MACD red bars are shortening, and the fast line is about to cross down—this is a classic precursor to a crash.

Liquidation map: Clear skies above, an abyss below.

From the liquidation map, there aren’t many short liquidations above $1600, so major players have no reason to push the price up to lift the shorts. In contrast, there is a heavy concentration of long liquidations not far below. This rebound is likely a "fake breakout" bull trap. After harvesting the long traders who chased the rally, it will turn around and trigger stops on longs, targeting $1500 directly!

Trading strategy:

Short around $1600! Since institutions have already shown the direction, we follow the trend. First target below is $1520, and if that breaks, it's a new low! Don't be fooled into buying this candlestick. It's a bloody "escape rally candlestick"!

‍$ETH #特朗普披露持有超1亿美元BTCETH