ETH Early Session Market Analysis (current price around 2612)

I. Trend overview: After rising from 2435 to 2646, ETH has entered a high-level consolidation phase. It is currently moving sideways in the 2600-2620 range, with a volume-declining pullback on the 1-hour timeframe. Early-session liquidity is weak, so a narrow range is highly likely while waiting for the European and U.S. sessions to gain momentum.

II. Key levels: Resistance above at 2650/2680 (near the previous high of 2646). Support below at 2600/2550 (the previous rally base). The bull-bear dividing line is 2646.

III. Market sentiment: The long-short ratio is 34%:66%, with shorts extremely crowded. Selling pressure above is substantial, but extremely bearish sentiment could easily trigger a short squeeze (a break above 2646 or a rapid surge).

IV. Strategy:
Longs: Scale into long positions around the 2600/2550 support levels, aiming to capture a second upward push. Set defensive stops at 2570/2520 (30 points below support) to guard against false breakdown wicks.
Shorts: Short at high levels around the 2650/2680 resistance levels. Set defensive stops at 2680/2710 (30 points above resistance) to guard against a volume-backed breakout and short squeeze.

V. Trading advice: Early-session price action is highly likely to produce wicks in both directions. Do not take a heavy position at the current price of 2612. Place limit orders and wait, strictly use 30-point stop-losses, and it is better to miss a trade than to make a wrong trade. $BTC

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