Friends, I am Hongcai! Yesterday, many large whales increased their long positions, and many players followed suit, resulting in a sharp drop of two hundred points without stop-losses, causing losses for those who couldn't withstand it. The ones who can endure have already been deeply trapped, while the whales are still increasing their long positions in ETH, but they are currently facing a loss of over 20 million dollars. Is this big player betting on a major rebound?
News front
Although the whale is stuck, he still has limit buy orders at 3030-3051, preparing to continue adding a position of 17 million dollars. What does this indicate? The big player believes this area is a phase bottom, and he is averaging down costs. But we small investors must not blindly follow; high leverage can easily lead to liquidation!
Technical analysis
Currently, ETH is consolidating above the support of 3070 on the hourly chart. There are heavy resistances above: 3150, 3250, 3400, each harder to break through than the last. Both MACD and RSI are still in weak zones, with no clear signals of strengthening. If 3070 cannot hold, the next strong support may be around 3000-2950.
Hongcai's personal view:
If 3070 does not break, it can still oscillate and grind at the bottom in the short term; once it breaks down with volume, it is likely to test the psychological level of 3000. It must stabilize above 3150 to open up rebound space.
I am currently closely monitoring the movements of large positions and changes in the order book. If clear signals appear later, I will layout in the chat room in advance!
What should you do if you are playing with ETH?
If you are heavily invested and stuck, don’t rush to cut losses; wait for a rebound to reduce your position.
If you are out of positions, you can cautiously try a small long position near 3070, but be sure to set a stop-loss.
Remember: Don't compare patience with whales; what we play is risk control and timing.
Want to keep up with Hongcai's real-time suggestions? Follow me, and in the chat room, I will specifically discuss ETH bottom judgment and batch buying plans, and I will also share the tools I use to monitor whale positions!
Remember: The market is always walked out, not gambled out. Risk control comes first, making money comes second!
Wealth does not rush in; making money in the cryptocurrency circle relies on understanding and patience, not shortcuts and luck! Follow Hongcai and participate in every attack of Hongcai! Hongcai will announce specific entry times and real-time news every day at the God of Wealth's house!#ETH走势分析 $ETH
