ETH 2700 first target hit! We’ve got a taste of the short trade’s gains
Guys, remember when I said, “The short-term outlook remains bearish. First target: 2700. If it breaks, we’ll wait for the next move”? Looking back now, did we get the timing right?
Starting from the opening of the 5-minute candle at 2703.25, $ETH slid steadily to a low of 2691.91, a drop of 0.42%. At 00:30 early this morning, the psychological 2700 level was decisively broken, and the first target was hit. The key resistance at 2715 and the hard ceiling at 2730 that I mentioned earlier proved impossible for price to reclaim. The gradual decline played out just as expected. We really did get a taste of this short trade’s gains.
Of course, I won’t claim certainty. The original conditions and timeframe still stand: if price regains and holds above 2730, I’ll admit I was wrong and withdraw my bearish view. On the 4-hour chart, price is still hovering below 2700, with recent support around 2683. There’s no clear sign of buying volume either, so my short-term bias remains bearish—but we’re nearing oversold territory, so watch for a technical rebound. Don’t chase shorts right at the floor.
Getting the timing right this time doesn’t mean the next move will go just as smoothly. Manage your own position, and don’t rush to buy the dip while the knife is still falling.
Here’s the original post—go check it for yourself: https://www.binance.com/zh-CN/square/post/374421858065697
Guys, remember when I said, “The short-term outlook remains bearish. First target: 2700. If it breaks, we’ll wait for the next move”? Looking back now, did we get the timing right?
Starting from the opening of the 5-minute candle at 2703.25, $ETH slid steadily to a low of 2691.91, a drop of 0.42%. At 00:30 early this morning, the psychological 2700 level was decisively broken, and the first target was hit. The key resistance at 2715 and the hard ceiling at 2730 that I mentioned earlier proved impossible for price to reclaim. The gradual decline played out just as expected. We really did get a taste of this short trade’s gains.
Of course, I won’t claim certainty. The original conditions and timeframe still stand: if price regains and holds above 2730, I’ll admit I was wrong and withdraw my bearish view. On the 4-hour chart, price is still hovering below 2700, with recent support around 2683. There’s no clear sign of buying volume either, so my short-term bias remains bearish—but we’re nearing oversold territory, so watch for a technical rebound. Don’t chase shorts right at the floor.
Getting the timing right this time doesn’t mean the next move will go just as smoothly. Manage your own position, and don’t rush to buy the dip while the knife is still falling.
Here’s the original post—go check it for yourself: https://www.binance.com/zh-CN/square/post/374421858065697