7.17 “Two-biscuit” approach: keep a light position around 1846–1866, stop-loss at 1886, first target 1820, second target 1800

ETH current price is 1846. On an hourly timeframe: yesterday’s shorts accelerated and released, with price directly breaking below the two support levels at 1880 and 1860, dipping to a low around 1846. The drop exceeded yesterday’s second target. In the short-term, moving averages are in a bearish alignment with divergence; rebounds lack strength, and the market is still dominated by the bears.

The longs chased above 1920 yesterday should be uncomfortable right now. At the highs, there were consecutive long upper wicks with increased volume and sluggish consolidation—once this structure reverses, the drop is never gentle. Although 1846 has temporarily stabilized, it still can’t reclaim 1860. This rebound looks more like a continuation of the decline, not a bottom.

For execution: enter in batches in the 1846–1866 range at the current price. Use a unified stop-loss above 1886. The first target is 1820; if it breaks down, then look to 1800. Once the trend forms, don’t easily “catch the falling knife” against the move. Follow the trend—discipline comes first. $ETH