Last night, the 4-hour level made a strong upward move, resulting in this inverted hammer line being very aggressive and violent, hitting straight down, equivalent to 300 million in funds entering the market, and immediately running 350 million in funds within an hour. First, clear out the high-leverage short positions, then immediately smash down to the lowest point from the day before yesterday. ETH was even more aggressive, pulling up to 3030 and then directly smashing out a new low of 2788.

So when the market is rallying, be sure not to chase, as a rapid rise will definitely lead to a quick drop, usually it’s just a high pull to unload, a false rise. As long as it’s a pullback, it tends to induce more buying. Try not to 'catch the bottom' before a significant downward move, because the 'bottom' you catch is merely a short-term rise, which will become ineffective within 12-24 hours.