$ETH After this big bearish candle finished dumping, the battle on the chart instantly went full throttle, and many people can’t hold back their urge to open a position.
On the 1-hour chart, price directly broke through all short-term moving averages. EMA7, EMA25, and EMA99 are all pressing overhead, current price is 2614, RSI has dropped to 19.46, severely oversold in the short term, with a low of 2587.
Seeing the sharp drop, many people’s first reaction is to chase the short side. But there’s a big trap here: a volume-driven plunge consumes a large amount of bearish power all at once, and a fierce corrective rebound can come at any time. Chasing shorts is very likely to get stopped out immediately.$BTC
Remember these key levels:
The life-or-death line below is 2587. If it holds, there is a chance for a rebound and repair.
If the candle body breaks below it, downside space will fully open.
First resistance above is 2630, second heavy resistance is 2670.
Don’t rush to act now. Two scenarios are hanging in the balance:$SNDK
Scenario one: 2587 holds, an oversold rebound begins, and price attacks the resistance above;
Scenario two: support is directly broken, and this drop is only a continuation of the downtrend, with deeper losses still ahead.
If you want to try longs, you must wait for a 1-hour candle to print a bottoming signal and then consider it only after price stabilizes above 2630;
If you want to short, either wait for a rebound into the 2670 area and then a rejection, or wait for confirmation that 2587 support has broken.
In a sharp selloff, emotional trading is the most taboo thing. Don’t try to catch a falling knife with your bare hands.
Whether this is a bottoming rebound or just a brief pause before another leg down, the next candle will reveal the answer right away.
If you want to build deeper expertise in crypto but don’t know where to start, want to quickly get up to speed and understand the information gap, come chat with me and get first-hand updates and in-depth analysis!#比特币跌破8.4万美元
On the 1-hour chart, price directly broke through all short-term moving averages. EMA7, EMA25, and EMA99 are all pressing overhead, current price is 2614, RSI has dropped to 19.46, severely oversold in the short term, with a low of 2587.
Seeing the sharp drop, many people’s first reaction is to chase the short side. But there’s a big trap here: a volume-driven plunge consumes a large amount of bearish power all at once, and a fierce corrective rebound can come at any time. Chasing shorts is very likely to get stopped out immediately.$BTC
Remember these key levels:
The life-or-death line below is 2587. If it holds, there is a chance for a rebound and repair.
If the candle body breaks below it, downside space will fully open.
First resistance above is 2630, second heavy resistance is 2670.
Don’t rush to act now. Two scenarios are hanging in the balance:$SNDK
Scenario one: 2587 holds, an oversold rebound begins, and price attacks the resistance above;
Scenario two: support is directly broken, and this drop is only a continuation of the downtrend, with deeper losses still ahead.
If you want to try longs, you must wait for a 1-hour candle to print a bottoming signal and then consider it only after price stabilizes above 2630;
If you want to short, either wait for a rebound into the 2670 area and then a rejection, or wait for confirmation that 2587 support has broken.
In a sharp selloff, emotional trading is the most taboo thing. Don’t try to catch a falling knife with your bare hands.
Whether this is a bottoming rebound or just a brief pause before another leg down, the next candle will reveal the answer right away.
If you want to build deeper expertise in crypto but don’t know where to start, want to quickly get up to speed and understand the information gap, come chat with me and get first-hand updates and in-depth analysis!#比特币跌破8.4万美元
