BitMine increased its holdings to 5.815 million ETH and the staking ratio is about 87%. This news gives the market a bit of a boost, but the CL order book is not that optimistic. Current price is 84.2, up 3% in the past 24 hours; both the 1-hour and 4-hour trends are pointing upward. However, it is still short of the highs by 0.34% and 0.37% respectively—overhead resistance is right above. In the order book, the top 10 sell orders total 102,912, while the buy orders are 86,379; sellers clearly have the advantage. Funding rate is 0.0000%, with no long premium—any push relies mainly on spot buying, and the strength is questionable.

In the short term, 84.5 is immediate resistance; if it cannot break through, it will likely pull back. In the medium term, support is at 80.3, with stronger support at 74.6. My view: the probability of a spike followed by a pullback is high.

Specific action: The aggressive plan is to short at 84.5, stop-loss at 85.1, and target 80.5. The conservative plan is to wait for a pullback to 80.3 to stabilize, then go long, stop-loss at 79.7, and target 84.5.

Risk points: (1) If BitMine’s increase triggers FOMO and causes a rush, it could directly break through 84.5. (2) The current trading volume is only 8.2 million, and liquidity is relatively thin, making it easier to get stopped out. Don’t over-allocate; keep proper protection.

—For personal opinion only, not investment advice. Wishing you a successful trade.—