Bought the dip 3 hours ago on EUL and lost $120k of the principal. Now my average entry price is 2.43, with an unrealized loss of 23.7%. This price action is exactly like the scene when I bought the dip on LUNA in March, but this time I’m going to bet on a rebound.

First, the trading plan. I already added at 1.86 with 30% of my total position. Now I hold 65% of the position. If EUL falls again to 1.76, the prior low, I’ll add up to 80% of the position, with a stop-loss set at 1.68 (if it breaks below the prior low by 5%, I must exit). Take-profit is in two stages: first target 2.15, corresponding to the 38.2% Fibonacci level of this drop—sell half; second target 2.45, liquidate all of the added portion.

I’m anticipating two scenarios. First: over the next one or two days, it ranges and builds a base between 1.76 and 1.86, then breaks out with volume above 1.95—this is a bullish signal. I’ll fire the remaining bullets to full after a confirmed 2-hour close above 1.95. Second: it directly breaks down below 1.76 with no volume-backed rebound, indicating the main players are still distributing. I’ll stop out at 1.72; I’ll accept the 30% loss and walk away.

The data is wild: in 24 hours it fell from 2.61 to 1.76, a drop of 32.7%. Trading volume is $425 million with an extremely high turnover rate, suggesting a fierce battle between bulls and bears. The daily RSI has already dropped to 28, indicating severe oversold conditions. Right now, we just need to see whether the 1.76 level can become a short-term iron bottom. If nothing strange happens when US stocks open tonight, there’s a high likelihood of a technical rebound.

I’m trading on Gate—don’t ask why I chose this exchange. The liquidity is deep and slippage is small. Friends who want to follow along, set your own stop-losses; don’t learn from me by going heavy.

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