Just now I was staring at the order book around $ETH , and it suddenly made me feel a bit reflective.
The current price is 1946.80. It looks pretty lively—up more than 3%—but the story behind the data is actually quite brutal.
I took a look at the giant whale’s data and found it really interesting:
👉 On the long side: 1,253 traders, holding orders worth 500 million USD, with an average opening price at 2031. It looks like there are many bulls and they seem strong, but the overall position is currently floating at a loss (down more than 20 million USD). What does that mean? It means the trapped positions are very heavy in the range above 2000–2030—full of “souls” waiting to break even.
👉 On the short side: 834 traders, with positions worth 240 million USD, average price at 1890. Even though there are fewer traders, everyone is also losing right now.
💡 My judgment logic:
The market right now feels like it’s walking on a “clamp” board.
There’s heavy pressure above at 2030 (so many longs are waiting to sell to get back to breakeven), and there’s support below at 1890 (the shorts’ cost line).
Currently 1946 is right in the middle. It looks calm on the surface, but under the surface there are turbulent undercurrents.
🎯 The next scenario projection (for reference only):
I think the main force will most likely try to probe that 1980–2000 area first, to test the sell pressure from the longs above. If they can’t break through, they’ll likely come back and step on 1900–1910 again to confirm the support.
📝 My practical trading plan:
● Direction: For short-term, I’m leaning bullish on consolidation, but I won’t chase.
● Entry points: I don’t want to catch a falling knife at the awkward spot of 1946. I’ll place a limit order to go long around 1915–1925. This is close to the shorts’ cost zone, so it’s relatively safer.
● Take-profit targets: First target at 1975, second target at 2010 (i.e., going to “liberate” that trapped long batch and have them lift me up).
● Stop-loss / defense: If it breaks below 1885, it means the short-term trend strengthens or the main force is dumping. I’ll admit defeat and exit—no holding through it.
One last word, just to be wordy:
In this line of trading, living longer matters more than making money quickly. Seeing these tens of millions in unrealized P&L tells you the market really caters to all kinds of people who don’t listen.
Everyone, manage your position size. Tonight’s volatility could be significant—don’t fall asleep and get woken up by a margin call text.
I’m Xin’er. No gambling—just trading. If you’re someone who’s always affected by gains and losses, can’t hold positions, and you want to talk, feel free to reach out and chat with me.
The current price is 1946.80. It looks pretty lively—up more than 3%—but the story behind the data is actually quite brutal.
I took a look at the giant whale’s data and found it really interesting:
👉 On the long side: 1,253 traders, holding orders worth 500 million USD, with an average opening price at 2031. It looks like there are many bulls and they seem strong, but the overall position is currently floating at a loss (down more than 20 million USD). What does that mean? It means the trapped positions are very heavy in the range above 2000–2030—full of “souls” waiting to break even.
👉 On the short side: 834 traders, with positions worth 240 million USD, average price at 1890. Even though there are fewer traders, everyone is also losing right now.
💡 My judgment logic:
The market right now feels like it’s walking on a “clamp” board.
There’s heavy pressure above at 2030 (so many longs are waiting to sell to get back to breakeven), and there’s support below at 1890 (the shorts’ cost line).
Currently 1946 is right in the middle. It looks calm on the surface, but under the surface there are turbulent undercurrents.
🎯 The next scenario projection (for reference only):
I think the main force will most likely try to probe that 1980–2000 area first, to test the sell pressure from the longs above. If they can’t break through, they’ll likely come back and step on 1900–1910 again to confirm the support.
📝 My practical trading plan:
● Direction: For short-term, I’m leaning bullish on consolidation, but I won’t chase.
● Entry points: I don’t want to catch a falling knife at the awkward spot of 1946. I’ll place a limit order to go long around 1915–1925. This is close to the shorts’ cost zone, so it’s relatively safer.
● Take-profit targets: First target at 1975, second target at 2010 (i.e., going to “liberate” that trapped long batch and have them lift me up).
● Stop-loss / defense: If it breaks below 1885, it means the short-term trend strengthens or the main force is dumping. I’ll admit defeat and exit—no holding through it.
One last word, just to be wordy:
In this line of trading, living longer matters more than making money quickly. Seeing these tens of millions in unrealized P&L tells you the market really caters to all kinds of people who don’t listen.
Everyone, manage your position size. Tonight’s volatility could be significant—don’t fall asleep and get woken up by a margin call text.
I’m Xin’er. No gambling—just trading. If you’re someone who’s always affected by gains and losses, can’t hold positions, and you want to talk, feel free to reach out and chat with me.