The morning divine pill has arrived! When the market overreacts, it becomes an opportunity!
Last night, after the Federal Reserve's interest rate cut was implemented, the market's first reaction was not strong; instead, there was a wave of emotional 'negative news fermentation' leading to a drop, and Ethereum was hammered down to a key pin level.
The drop to $ETH is emotional rather than trend-based. After the negative news was released, there was a sharp drop, which is the market's most standard behavior of 'expectation fulfillment + clearing positions'.
It is a very typical move to eliminate floating capital, force short positions to enter, wash out those chasing the rise, and then move upwards.
The support for ETH at 3200-3180 has been confirmed again with a retest. Once the sentiment stabilizes, the upside space will quickly open up, so we can enter long positions with a stop loss at 3150 and take profit at 3300.
Follow Yun Ge’s operational thinking, and be one step ahead in the chat room!
