7.21 $ETH short setup

Entry: short in batches across ranges 1914 - 1925
Defensive stop-loss: around 1930
First target: 1898 - 1905
Second target: 1877 - 1890
At the early-morning spike, #ETH突破1900美元 touched 1917.92, the intraday high. After that, long-side buy orders rapidly dried up; price then moved into a round of sustained pullback. The subsequent second rebound is more of a technical corrective bounce after the decline. Throughout the entire process, it failed to expand volume enough to break above the prior high pressure zone. Above, the full wide range from 1914 to 1925 formed a double-top structure that trapped longs and piled up sell pressure, along with short-term long profit-taking and previously range-bound trapped positions—covering the entire rebound repair upward channel. In the 5-minute short-cycle, the rise’s momentum kept decaying step by step. The strength of the second push higher was far weaker than the first wave of upswing. The long-side rebound is only passive support-taking rather than active strong offensive. Intraday, the one-way rally that started from 1852.66 accumulated a large amount of short-term profit-taking inventory. At the short-cycle level, long-side profit positions are substantial; there is a clear need for concentrated profit-taking and a deep pullback. The double-top overall pressure band’s suppression effect is obvious. If there is no sustained influx of large incremental capital, it will be difficult for price to hold and restart a long-side one-way trend at the 1917.92 high. The 1930 stop-loss defensive zone faces firm pressure and leaves ample room for error. Unless a sudden major piece of good news triggers a violent rally that breaks through the defensive level, this rebound-repair move is basically declared over. Therefore, plan to build positions under pressure in a wide range in batches, with take-profit across broad, step-based target intervals. The core trading idea right now is to stick to shorting from rebound highs: rely on the complete strong pressure band of the double top to place short orders in a staged, gradient manner, and time the pullback in the rhythm after long-side momentum fully exhausts—betting on this deep pullback.