ETH's performance in the past 48 hours has been like a dead fish, until last night when it suddenly dipped down in a series of tests, triggering the buy orders set by the whale below, directly pulling ETH back from the edge of 3000 dollars. Now the price is hovering around 3120, but is this rally really going to take off, or is it just a dead cat bounce? We need to take a closer look.
News: The whale “bottom fishing” suffers a loss of 22 million, while another whale is aggressively increasing its position!
The “BTC OG insider whale” is crazily switching to ETH. Last night, ETH dipped down, nearly sweeping all his buy orders in the range of 3030-3150 dollars, totaling nearly 92.7 million dollars! What happened? His total holdings now reach 670 million dollars, but the unrealized loss has already reached a staggering 22 million dollars!
Borrowing coins to short, the whale is crazily bottom-fishing; in the past 8 hours, it withdrew 38,576 ETH from Binance in one go. This is clearly hoarding at a low price, preparing to make moves!
Interpretation: Putting these two messages together, the information is explosive! On one side, the 'insider whales' are trapped in leveraged long positions but are still holding on or even increasing their positions; on the other side, short whales are massively accumulating. What does this indicate? The whales are in sync at this position, showing strong willingness to 'buy' and are clearly bullish on future prospects. If you’re unclear about the specific points, you can follow Market Insight, which reminds friends who have followed me in real-time 24 hours a day.
Technical Analysis: The 1-hour chart is making a desperate counterattack, but the daily chart is still in a 'dying struggle.'
1-hour K-line chart: Last night there were two consecutive downward 'needles,' hitting a low of 3022, but were quickly pulled back, forming a clear double bottom pattern. The current price has already stood above the middle band of the Bollinger Bands and is attempting to attack the upper band. The MACD shows signs of a golden cross below the zero axis, and green bars are starting to emerge, indicating a short-term strengthening momentum.
Daily Level: The daily chart isn't so optimistic. ETH is still being suppressed below the middle band of the Bollinger Bands, the MACD line is flat, and there is no obvious upward movement, indicating the overall downtrend hasn't reversed. 3300 is like a 'line of life and death'; if it doesn't break through, the bulls will find it hard to achieve great results.
ETH right now is like a patient just rescued; there is a heartbeat, but the body is still weak. The whales' crazy operations have given the market a shot in the arm, but whether it can truly recover depends on the 3300 'check-up report.' Remember, in a volatile market, don’t chase highs and sell lows; set proper stop-losses and wait for key positions to be confirmed. The bigger the waves, the more expensive the fish, but the prerequisite is that your boat doesn't capsize first!
Market Insight: Aggressors: You can try shorting with a small position at the current price, targeting 3050-3000. Remember to set a stop-loss; don't learn from the whales and hold on stubbornly.
Conservatives: Patiently wait for two signals: one is for the daily closing to stabilize above 3300, and the other is for the MACD to form a golden cross. Only then is it safer to follow up.
Personal View: In a volatile market, don't chase highs, keep a close eye on these two signals!
Whales are not 'gods,' but they are signals: The operations of these two whales indicate that there is a large amount of capital willing to support at this price level. Their 'pain' may bring a short-term market rebound, but don’t treat them as guiding lights—whales can also get liquidated.
Short-term looks like a rebound, but the trend hasn't changed: The double bottom on the 1-hour chart and MACD golden cross support ETH in launching an attack toward 3200-3300. But this is a rebound, not a reversal. Until the daily MACD turns positive and the price stabilizes above 3300, don't easily say the bull market has returned.
If you don't know the specific entry and exit points, and fans holding positions can follow Market Insight, which will announce the daily coins and entry/exit points in the village 24 hours a day!
