Coin friends, I am Zhao Gongming. This morning, news broke that the 'insider whale' who accurately predicted the policy and holds 50,000 BTC made a massive purchase last night when the price dropped to 2900 under $ETH by buying long positions worth 166 million dollars in one go! When a big player of this level acts, does it mean that ETH is about to soar violently? Don't rush, follow Zhao Gongming, and let me show you whether the market has revealed the truth to him.
News: The whale is buying, but don't rush to 'follow blindly'!
This 'OG whale' indeed has some background, and his actions often align with policy trends. But you need to understand: his average entry price is at 3048, and ETH is only 3099 now, so his unrealized profits aren't that much.
More critically, he has previously traded ETH in waves, not always holding long. What does this indicate? He may only be making a short-term rebound rather than looking long-term bullish. If you chase in now, you might end up on his 'profit-taking' list.
Technical Analysis: 3150 is the 'critical juncture', but if it doesn't go through, it's all paper!
The 1-hour chart is very clear: 3150 is a strong resistance recently, and 3230 is an even stronger resistance. Although the MACD has golden crosses above the zero line, the 'energy is insufficient', indicating that the upward momentum is not strong.
If the price encounters resistance and falls back in the 3130-3150 area, it is very likely to retest the key level of 3050, or even test the support at 2910. Remember: below resistance levels, all upward movements are suspected of being 'bait'.
Zhao Gongming shares daily; if this helps you, you can follow Zhao Gongming and join the chat room to get firsthand news and entry points!
Zhao Gongming's views and strategies:
Zhao Gongming believes: in the short term, it looks like a rebound, but not a reversal. A surge is a selling point, not a buying point.
Advice for those already holding positions: if it doesn’t move up near 3150, it is advised to take profits in batches, especially for those with heavy positions. Don't be greedy; securing profits is important.
Advice for those looking to enter: definitely do not chase above 3100! Two safe strategies: one is to wait for a pullback to stabilize at 3050 and buy low, with a stop-loss set at 3030; the second is to wait for a volume breakout above 3150 and then enter with a light position, with a stop-loss at 3120.
In the crypto world, 'the big players' can be observed, but you cannot blindly copy them. They have ample funds and time to make mistakes, but you do not.
If you always get excited seeing 'whales buying' and end up with a half-month wait; if you want to know how to anticipate the next moves of this 'smart money' through 'large on-chain transfers' and 'position changes', follow Zhao Gongming, who will teach you how to identify whether the main force is 'genuinely rallying' or 'falsely bottom-fishing', so you won't become a victim of the news.
