Market sentiment is pretty bearish, so today’s approach is to short at the highs and look for long opportunities at the lows.
Last night’s move basically matched my analysis from yesterday—the rebound lacked momentum, spiked up briefly, then turned sharply downward. This downward move was very smooth and decisive.
Looking at the current market structure, this rebound correction was really weak and didn’t reverse the previous downtrend at all. Bears are still in control, and from the volume and cycle perspective, there’s a high probability of the price continuing downward. There are no signs of a reversal for now in this weak setup.
Here’s how I plan to operate: $ETH If it rebounds to around 3090 or 3150, consider building short positions, with an initial target of 3000, and then looking further down to around 2910.
With the current technicals, there’s still support for the continuation of the bearish trend.
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rekt_but_not_broke
· 12-08 00:20
Another spot-on prediction. Your instincts are truly incredible.
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EthSandwichHero
· 12-08 00:16
There is indeed continuity in the downtrend, but the rebound is so weak that it’s frustrating. Why does it feel like it’s just tormenting people over and over again?
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AirdropChaser
· 12-08 00:13
The rebound has no strength at all, you can see right through this rhythm. 3150 is indeed a good short position, I'm also watching that level.
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Another precise entry, the logic behind this short really holds up.
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Shorting at the high is the right idea, now let's see if 2910 can hold.
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My judgment in the early morning was spot on; this rebound is just a weak bounce, nothing worth watching.
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The bearish trend has to continue, don't get fooled by the rebound, wait for 3150.
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With such an obviously weak technical setup, it would be strange not to be bearish.
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Looking at this cycle, it's clear there's more downside to come. Those looking to bottom fish can wait a bit longer.
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With such sluggish volume, what's the point of a rebound? It's just a feeble bounce.
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3090 to 3150 is a pretty good shorting window, I've marked it too.
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FarmToRiches
· 12-07 23:57
It's another high-level short order situation. I don't believe you, haha.
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GasGuzzler
· 12-07 23:53
Sigh, it's the same weak rebound routine again. The bears are going to keep making trouble.
#美SEC促进加密资产创新监管框架 12.8 Ethereum Watch
Market sentiment is pretty bearish, so today’s approach is to short at the highs and look for long opportunities at the lows.
Last night’s move basically matched my analysis from yesterday—the rebound lacked momentum, spiked up briefly, then turned sharply downward. This downward move was very smooth and decisive.
Looking at the current market structure, this rebound correction was really weak and didn’t reverse the previous downtrend at all. Bears are still in control, and from the volume and cycle perspective, there’s a high probability of the price continuing downward. There are no signs of a reversal for now in this weak setup.
Here’s how I plan to operate: $ETH If it rebounds to around 3090 or 3150, consider building short positions, with an initial target of 3000, and then looking further down to around 2910.
With the current technicals, there’s still support for the continuation of the bearish trend.