The intraday trend of ETH is really struggling today; the minute chart looks just like an electrocardiogram that's about to lose signal.

Now keep an eye on the 2900 level—longs and shorts are wrestling here, and whoever loses will be out. My view is: if it really drops to around 2900, it will likely bounce back to 3080. But don’t get too excited, 3080 is just a bait point, and it’s just right for laying out short positions there, with a target looking at the range of 2845 to 2854.

Remember, once the pin is in place, you have to run, don't be greedy! The script can change at any time—what if 2900 can't hold? Then you have to look down at the deep pit of 2715. Conversely, if after the pin the price really rebounds to around 3100, that would be the second wave of slaughter trap, you know what I mean.

**Two Possibilities Deduction**

**Scenario One:** First, insert 2900 and then pull it up, rebounding to 3080 to lure in buyers, then violently smash down to 2845-2854 (first wave harvesting zone). After that, insert a needle and rebound to 3100, forming a double top scythe shape. Finally, initiate the ultimate decline, heading straight below 2500.

**Second Scenario:** 2900 holds firm, starting to oscillate upwards to the ultimate inducement zone of 3230-3250. After a false breakout, it plunges straight down to 2778, then rebounds to 2980 creating the illusion of a "bullish reversal." In reality, a downward trend has already begun, with the target also being to break 2500, step by step cutting losses.

**Risk Control Reminder**
When shorting 3080, you must set a stop loss at 3120 to prevent sudden spikes causing liquidation. 2845 is the first take-profit point; if it hits, hurry and exit without hesitation. Once it falls below 2778, the trend turns bearish, and every subsequent rebound is an opportunity to add to your short position.

**Morpho's Strategy in a Market Crash**

While retail investors are being cut back between 2900 and 3100, Morpho's lending pool is playing precision arbitrage. Its "interest rate pulse capture" mechanism is specifically designed to profit from the instant premiums in pinning market movements—when the market fluctuates violently, lending rates can spike instantly, and Morpho can quickly match supply and demand for funds during these extreme moments, turning others' panic into its own profit.

In simple terms, a pinning market is a disaster for retail investors, but a harvesting machine for those who know how to use DeFi tools.