$ETH The double top broke down—2400 is back. Do you dare buy the dip? 😤
The takeaway first: I’m bearish on this chart. If you’re looking to catch the bottom, wait a little.
In early October, $ETH formed a double top above 2700. Once the neckline at 2660 broke, the price plunged, bottoming at 2317. The whole range dropped 12.7%, and even the golden cross around 2700 turned out to be a bull trap.
After the breakdown, there were two relief rallies. On October 12 and 14, the price ran into resistance at the descending trendline and EMA 50 zone around 2494/2531, then got knocked back—textbook bearish continuation.
The price is now 2420.9, catching its breath on the 2393 support level. MACD is starting to curl up a little at the bottom, but that’s just a dead-cat bounce after an extended decline, not a trend reversal. If 2393 doesn’t hold, the long wick at 2317 is the next stop.
My view: bearish. Reduce your position on rallies; don’t chase longs. We can talk about a trend reversal if the price closes back above 2494. If it can’t, sit tight and watch.
After this double-top sell-off, did you get out of your ETH, or are you still underwater?
Personal opinion only; not financial advice.
#以太坊 #技术分析 #CryptoMarket
The takeaway first: I’m bearish on this chart. If you’re looking to catch the bottom, wait a little.
In early October, $ETH formed a double top above 2700. Once the neckline at 2660 broke, the price plunged, bottoming at 2317. The whole range dropped 12.7%, and even the golden cross around 2700 turned out to be a bull trap.
After the breakdown, there were two relief rallies. On October 12 and 14, the price ran into resistance at the descending trendline and EMA 50 zone around 2494/2531, then got knocked back—textbook bearish continuation.
The price is now 2420.9, catching its breath on the 2393 support level. MACD is starting to curl up a little at the bottom, but that’s just a dead-cat bounce after an extended decline, not a trend reversal. If 2393 doesn’t hold, the long wick at 2317 is the next stop.
My view: bearish. Reduce your position on rallies; don’t chase longs. We can talk about a trend reversal if the price closes back above 2494. If it can’t, sit tight and watch.
After this double-top sell-off, did you get out of your ETH, or are you still underwater?
Personal opinion only; not financial advice.
#以太坊 #技术分析 #CryptoMarket