Brothers, the market signals are very clear, and the direction remains unchanged. The profits from the continuous short positions taken recently have confirmed my judgment: Ethereum has clearly turned into a downtrend channel, with the target aimed at the previous low around 2710.
On the four-hour chart, the price is firmly held down by the EMA7, EMA30, and EMA120 moving averages, forming a standard bearish arrangement. Especially around 2860, which just happens to be the short-term resistance level of EMA7, a rebound to this area provides an opportunity to short. Although there were long lower shadows during the dips in the past two days, indicating that some funds are tentatively buying at low levels, the rebound lacked strength and was quickly pushed back down. The MACD is below the zero axis, and the shortening green bars indicate that the speed of the decline is slowing, but the overall trend remains bearish. The RSI is around 34; although it has escaped the oversold condition, it is still weak.
The core view can be summarized in one sentence: the trend is downward, and the rebound is an opportunity to add to short positions.
The current market trading volume is sluggish, and both bulls and bears are watching. In such times, prices are more likely to follow the existing trend. There is heavy resistance above, and each rebound appears hesitant and weak.
My operational strategy is very simple:
Main short area: near 2860-2880, you can start to gradually position short orders.
Add position location: If the price rebounds strongly and reaches around 2920, that would be a good opportunity to add to short positions.
Where to look for targets: The first target for shorts is aimed at 2820-2780; if the downward break is strong, the ultimate target looks towards the previous low area around 2730-2710.
Remember, in a clear downtrend, do not easily try to catch the bottom. What we need to do is follow the trend and use rebounds to find high-value shorting positions. Keep your hands steady, watch the resistance levels, and let the market validate the rest.
I am Brother Niu, only dealing with markets I understand. #巨鲸动向
