ETH 2050: Rapid Rebound or Another Dip?

There aren't many people in the teahouse. I’m having tea and chatting casually with an old brother who runs a mining equipment business.

I asked him, the Jiangsu mining boss who kept talking about going to Australia to eat lobsters, how is he doing lately?

He said, don’t mention it. Two years ago, he borrowed 100,000 yuan from me, taken in two installments. He still owes 70,000 yuan.

I asked, it’s hard to believe, a camel that’s starved is still bigger than a horse.

The brother sighed, “He called me again yesterday, started by lamenting, ‘Brother, how did it come to this? Now even eating is difficult.’”

I said, that’s such an old excuse.

The brother shook his head, “Caught in a mining disaster. He didn’t go in, but he’s been sealed by debt.”

I said, no matter how glorious it was before, once you fall, incur debt, and sink into the mud, you’re just spouting nonsense.

He said, one by one, it’s like falling into a swamp. Trying desperately to grab a lifeline, but in the end, the lifeline gets pushed underwater too.

After hearing this, I felt a bit emotional. The current crypto circle is exactly like this swamp.

After taking a sip of tea, I opened my phone to check the current price. $ETH The price is hovering around 2050.

I told my brother, look at this position. Doesn’t it resemble the current situation of that bankrupt boss? Stuck in the middle, neither up nor down. The effective trading range now is roughly between 1980 and 2150. 2050 is right in the middle of this swamp.

What do retail investors like to do most? They keep opening positions in this no-man’s land, always thinking they can grab some straw. But what happens? When the big players slightly move the door, causing some fluctuations, their principal gets worn down as fees. This isn’t trading; it’s flailing in the swamp, moving more and more quickly toward death.

Now, the big players are just playing back and forth like this, draining everyone’s patience, and blowing up retail leverage. The truly savvy are now on the sidelines, smoking and watching the show. Waiting for what? Waiting until these people get tired of fighting in the mud, pushed to the edge, then they make their move.

Main theme today: Focus on long positions, watch with a cold eye

Strong resistance zone (2128 - 2148): This is the short-term distribution area, also a dense zone of previous trapped positions.

Strong support zone (1985-2010): This is an integer level, also a relay platform from the previous wave’s 1-hour rally (top-bottom transition zone).

In this market, instead of frequently dying at mid-range prices every day, it’s better to learn to watch coldly like an old man basking in the sun at the village entrance. Wait until the bulls and bears bleed each other, then go in for the final catch.

Are you currently operating onshore waiting for prey, or are you grabbing straws in the swamp? Share your thoughts in the comments.