7.16 Biscuit $ETH short strategy

Entry: 1920 - 1935 short
Defense stop-loss: around 1950
First target: 1900 - 1890
Second target: 1875 - 1860

ETH saw a violent rally higher on good news the night before, surging to the intraday high of 1946.75. After short-term long positions rushed in to push up quickly, buy-side follow-through weakened, and price entered a choppy, bearish drifting-down move. Short-term long trades that entered on the spike gradually took profit and exited. A large amount of late-chasing trapped longs and sell-pressure supply piled up in the 1935-1950 range. Overall, the larger-cycle bullish trend hasn’t completely reversed, but after the short-lived, rapid spike, short-term indicators became severely overbought. Once the good-news momentum fully played out, upside attack energy for the bulls was already exhausted, and the chart has entered a profit-taking pullback phase to absorb. Multiple layers of resistance above are densely capping price; without substantial incremental capital entering, it’s hard to break above the previous high again. This pullback downward has already opened up the room, so loosen the range for staggered entries and take-profit levels appropriately. Today’s core approach is also mainly to rebound and short at higher levels, going with the trend—set up short positions in batches based on the resistance zone overhead, and align with the market’s pullback pace to compete for a deeper retracement scenario. #USDT充值理财双重奏