It's just that impressive, precisely capturing a profit of 200 points at a high altitude $ETH !
On the eve of the interest rate cut, retail investors in the market were chasing long positions, while Old Chen accurately led fans to short near 3430!
The market had already fully absorbed the positive news of a 25 basis point rate cut in advance, and the message landing instead became an opportunity for bulls to offload.
The current contract open interest is at a high level, and large amounts of leverage have made the market extremely fragile; a pullback could easily trigger a chain liquidation.
From a technical perspective, 3428-3449 USD is a strong resistance zone, with insufficient momentum to break through 3600, while there is room for operation downwards.
The most dangerous aspect of the current market is the unanimous bullish sentiment; at this time, calmness and counter-trend thinking are more necessary.
True risk control is not about chasing highs and cutting losses, but having the courage to layout in the opposite direction when the crowd is crowded.
The current data on liquidations across the entire crypto market already shows fierce contest between longs and shorts, and vigilance must be maintained.
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