【Same Script, This Time I Won’t Fall for It】
Back in 2017, I bought that coin that got cut for the first time—what it was called, I can’t remember. But its chart looked exactly like ENA right now: it rose more than 40% in a week, then started to go sideways. People began shouting, “This is just a pullback—there’s still a tenfold move ahead.”
So what happened? It went sideways for three weeks and then dumped for two months.
So when ENA recently surged 46% in the last seven days, my first reaction wasn’t, “Time to rush in,” but—this script, I’ve seen it before.
Last week, I was still hearing people say, “The Ethereum series is about to explode.” I did have a bit of an itch to trade, though. But I held back. Why? Because it’s moved too fast. 46% in seven days—this kind of speed means either a real bull run is starting, or it’s just feeding people into bags. The difference lies in the trading volume: when it’s a genuine move, pullbacks come with reduced volume; when it’s distribution, rallies happen with huge volume.
The issue I’m stuck on right now is that I don’t see a clear enough signal. A tiny dip of 1.8% over 24 hours isn’t much, but it also didn’t shrink volume and stabilize. By my usual temperament, I would’ve already shouted, “A pullback is an opportunity.” But the lesson from 2021 tells me—at times like this, the most dangerous thing isn’t chasing too high and getting stuck; it’s thinking you’ve figured it out, only to realize you’re just repeating the same losing path from before.
The FNG index is 71—greed zone. The overall mood in the crypto market isn’t bad, but that doesn’t mean ENA can strengthen on its own. BTC’s dominance at 58.7% has been inching higher. With liquidity like that, altcoins can only rally if either BTC actively steps aside, or incremental funds enter the market. Right now, it doesn’t look like that extra liquidity has arrived.
My take is: it’s safer to watch and wait than to act right now. Let it truly choose a direction—hold firm or break down with volume—then make your decision. No rush.
Of course, it’s easy to talk big. When the itch hits, you’ll still feel it. What about you—do you dare to catch this wave of ENA?
Back in 2017, I bought that coin that got cut for the first time—what it was called, I can’t remember. But its chart looked exactly like ENA right now: it rose more than 40% in a week, then started to go sideways. People began shouting, “This is just a pullback—there’s still a tenfold move ahead.”
So what happened? It went sideways for three weeks and then dumped for two months.
So when ENA recently surged 46% in the last seven days, my first reaction wasn’t, “Time to rush in,” but—this script, I’ve seen it before.
Last week, I was still hearing people say, “The Ethereum series is about to explode.” I did have a bit of an itch to trade, though. But I held back. Why? Because it’s moved too fast. 46% in seven days—this kind of speed means either a real bull run is starting, or it’s just feeding people into bags. The difference lies in the trading volume: when it’s a genuine move, pullbacks come with reduced volume; when it’s distribution, rallies happen with huge volume.
The issue I’m stuck on right now is that I don’t see a clear enough signal. A tiny dip of 1.8% over 24 hours isn’t much, but it also didn’t shrink volume and stabilize. By my usual temperament, I would’ve already shouted, “A pullback is an opportunity.” But the lesson from 2021 tells me—at times like this, the most dangerous thing isn’t chasing too high and getting stuck; it’s thinking you’ve figured it out, only to realize you’re just repeating the same losing path from before.
The FNG index is 71—greed zone. The overall mood in the crypto market isn’t bad, but that doesn’t mean ENA can strengthen on its own. BTC’s dominance at 58.7% has been inching higher. With liquidity like that, altcoins can only rally if either BTC actively steps aside, or incremental funds enter the market. Right now, it doesn’t look like that extra liquidity has arrived.
My take is: it’s safer to watch and wait than to act right now. Let it truly choose a direction—hold firm or break down with volume—then make your decision. No rush.
Of course, it’s easy to talk big. When the itch hits, you’ll still feel it. What about you—do you dare to catch this wave of ENA?