I am your old friend Xin Ying. Just now, while staring at the market, I smoked half a pack of cigarettes, and suddenly a message popped up on my phone - "BTC OG whale has increased the position in ETH long, with unrealized losses exceeding 70 million dollars!" I felt a chill down my back, and combined with the current shaky 4-hour chart, it's highly likely that tonight will be another bloody scene of "longs killing longs." If you haven't slept yet and if you still hold ETH, you must read this analysis to the end!
Technical aspect: A rebound is just a bait for longs, if it doesn't surpass 2890, it's all just a dream.
From the 4-hour chart, ETH is currently experiencing a slight rebound in a downward channel, but be careful - 2890 is the resistance level for the rebound. If it doesn't stabilize here, any rise would be a trick!
What’s more critical is:
MACD is dead cross below the 0 axis, red bars show 'false strength', but the volume clearly cannot keep up, which is a typical lure for longs.
RSI has entered the oversold zone, a short-term rebound may occur, but if it cannot break through 2890, it could turn down at any time.
Strong resistance above: 2930, 2982 (previous high), layers of pressure like a ceiling, is it difficult for bulls to break through?
Xin Ying's viewpoint: The trend is still dominated by bears, and every rebound gives you a better shorting position. Don't let a single bullish candle change your faith!
News: Whales increasing long positions, is it 'bottom fishing' or 'feeding the fish'?
The news that went viral today - a certain OG whale has once again increased its ETH long positions, with holdings exceeding 200,000 coins, but the floating loss has reached 70.16 million dollars!
This releases two dangerous signals:
Whales are also holding positions, and they are holding 5x long positions, with a liquidation line at 2132 dollars.
Market sentiment is extremely fragile; large funds going against the trend often represent the 'last struggle', which may trigger a larger scale liquidation cascade.
Xin Ying bluntly states: In a bull market, whales are the indicators; in a bear market, whales may just be the 'target'. If the market plunges again tonight, these long positions will become the bears' 'ATM'!
Market trend prediction: First lure the longs, then kill the longs!
If it breaks through 2890: It may briefly spike to the 2930-2982 area, which is an excellent opportunity for high shorts.
If it encounters resistance at 2890: A high probability of falling back to test 2789 support; if it breaks, it will accelerate downwards, targeting the previous low of 2620.
Key point tonight: Watch if 2890 can hold, and see if the trading volume supports it. But I tend to believe - a rebound is the timing for entering short positions.
What should retail investors do? Xin Ying gives you three phrases
Don't chase the longs: Don't let the whales 'lead the rhythm'; they can afford losses, but you cannot.
Short at highs: Gradually layout short positions in the 2890-2930 area, with stop-loss above 2982.
Position control is crucial: Remember to keep light positions and set stop-loss; don't hold positions! The market is unstable, surviving gives you a chance.
Iron Eagle reminds
There are no deities in the crypto world, only signals and discipline. Whether it's a whale or a retail investor, going against the trend is risking your life. Tonight, I will be monitoring the market in real-time in town. If you don't want to face this storm alone, follow me, and Xin Ying will guide you through the candlestick charts to understand the truth.
Remember: Trend is king; better to miss out than to make a mistake! #ETH走势分析 $ETH
