7.18 “Er Bing” $ETH short idea

Entry: short in the 1838 - 1862 zone
Defensive stop loss: above 1870
First target: 1820 - 1810
Second target: 1805 - 1800

ETH spiked higher in the early session and touched the 1859.31 high, after which the buy-side quickly dried up. Capital continued to flow out on a net basis. After the spike, there was no strength to extend the rally further, and the market has been chopping and consolidating under pressure in the upper range. The current price has pulled back to around 1842. Above it, the entire 1838-1862 zone is covered by long profit-taking sell pressure—so as long as price rebounds back into the range, short-term profit-taking positions will likely rush to exit. In the short-cycle indicators, top divergence is clear, and longs lack the momentum to push higher. After consecutive rebounds, the chart still needs a pullback to shake out positions, with ample room for downward adjustment. Today’s core idea is to build short positions in batches based on the broad overhead resistance band, betting on the pullback swing after the market fails to sustain pushing higher. #GateDEX全面接入RobinhoodChain