A sharp drop on high volume within four hours—are the traders’ longs still okay?

In terms of daytime thinking, it was already very clear: breaking below 6350 means there will be persistent sell pressure from above, so the downtrend is definitely set to continue. On top of that, the recent tensions between the US and Iran are still causing issues, and with the CPI key data coming up, if fighting breaks out then inflation would spike and any rate cuts would be off the table. Institutions will definitely sell the chips they hold. The break below 6450 on the right side chasing and shorting down also leaves nearly 2,000 points of room. At critical moments, don’t stand in the wrong direction!

For ETH, the cue was breaking below 1780—chasing the short and then watching for 1750-1710 also hit the target as expected. Next, we’ll see how strong the bounce and recovery is. If the four-hour timeframe can close above 1780 after the top-bottom shift, the market will still remain in a range. If it can’t reclaim and close, the market will keep weakening. Hold the short and stay steady—at the daily level, the pullback room is huge!

The impact of the macro narrative will only show up after the market reacts. After all, in crypto trading, people buy the expectation and sell the fact. In the short term, you just need to nail the key turning points. What you should worry about is only the space for profit—but if your direction is wrong, then it comes down to either cutting losses or getting liquidated. Your choice decides your future!
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