Ethereum Analysis


The chart shows a standard double-top (Ethereum) reversal pattern at a high level. Both attempts to test the same resistance level were rejected, with peaks at the same height and upward momentum completely exhausted.

The second upward push is weak and lacks volume, clearly a trap to lure buyers into a higher top, as bulls are unable to sustain the rally. A large amount of筹码 (positions) are trapped at the top, and the main players have completed distribution, confirming the double-top structure.

Technically, once the double top is formed, it marks the end of the uptrend and the start of the downtrend. Once the neckline support is breached, the bulls will completely collapse, leading to a sustained bearish decline. All rebounds will be opportunities to short.

Open short positions in batches around 1790-1820, targeting 1700-1670. $BTC $ETH #GT二季度销毁257万枚
BTC1.82%
ETH0.96%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned