If you're still struggling with whether $3100 is the bottom, it means you haven't been paying attention to the data. The current ETH is like a lead ball hanging in mid-air, the rope has already snapped.
I just ran through the raw quote stream from the exchange,
3100
The buying depth below is basically a ghost zone. Everyone is staring at
3100 The buying depth below is basically a ghost zone. Everyone is staring at
3000 that round number, but they don't understand the market maker's hedging logic — Gamma has turned negative, which means that for every dollar the price drops, the system will automatically trigger a more intense sell-off to hedge against risk. This isn't called a decline, this is called 'algorithmic suicide'.
BTC broke $91000, the last veil of exchange rates for ETH has been torn to shreds. Don't talk to me about technical indicators; right now, the only thing in play is gravity. That 15,000 contracts of 3000 point puts on the options chain is not a defense line for the bulls; it's a slaughterhouse, a grave prepared for those self-proclaimed 'bottom-fishing warriors'.
My model audit results only provide one physical endpoint: $2920.
Before it drops to this number, all the rebound jumps are just deceiving you into entering to exit liquidity. If you only have that little principal in your account, closing your eyes and watching the show is the only rational choice; if you want to fire, just smash downwards with gravity.
Put away your worthless hopes; that thing is worth nothing in the face of probability. Target: $2920. Understood?