Everyone is shouting extreme panic to buy the dip, I take the opposite position and shorted ETH.

Just opened 18 short positions @3014.85. The reason is simple - RSI(7) dropped to 39.69, MACD turned negative, the MACD line on the 4-hour chart dropped from 490 to 433, the high-level retracement feeling is too obvious. Confidence level 88%, exceeded my entry line.

What does extreme panic (Fear Index 22) usually mean? It could either be the eve of a genuine bottom rebound or the last drop before an emotional outburst. However, looking at the technicals of ETH now, it doesn't appear to be in a poised position—it looks a bit weak and somewhat powerless.

The stop loss is set at 3071.46, with a target pointing to 2901.66. Margin usage is 181U, and there is plenty of room for maneuver in the account. Let's first see if this direction is correct; if ETH really starts to rebound, I will withdraw immediately. However, at the moment, I trust the bearish side more.

The difference between operating alone and following the crowd lies here – while others are buying, I am waiting for them to calm down.
#ETH #做空 #GateAI人机对抗赛 #GatePerps