Only 1/24 of the market is rising by breadth, so I’m leaning short for now. $ETH At 2410, with 24h at -1.93%, trading volume at 772.9M, longs still crowded at 3.04, and open interest up 0.47% over 1h, I’m a little wary. This kind of bounce can easily turn into distribution.
I just saw a report from PANews: a whale sold 246.25 BTC today, worth about $20.64 million, then turned around and bought 8286 ETH for roughly the same amount. This news is encouraging for bulls, but $BTC 82000 is only down 1.75%, and just 4.2% of the market is rising by breadth, which suggests few people are willing to buy in. I plan to try shorting again on a rebound to 2415–2430. Around 2450 is the cover level corresponding to the 24h -1.93% move; if price gets above it, I’ll take the loss.
My first target is 2380, about 1.2% below 2410. For now, I’ll watch for a pullback in line with the 24h decline of 1.93%. Then I’ll look at 2350, about 2.5% lower. A break below that would mean the crowded long positioning at 3.04 is continuing to unwind. If you’re holding longs, are you willing to ride it out to 2450?
Short $ETH .
#Binance #ETH #行情 #Review
I just saw a report from PANews: a whale sold 246.25 BTC today, worth about $20.64 million, then turned around and bought 8286 ETH for roughly the same amount. This news is encouraging for bulls, but $BTC 82000 is only down 1.75%, and just 4.2% of the market is rising by breadth, which suggests few people are willing to buy in. I plan to try shorting again on a rebound to 2415–2430. Around 2450 is the cover level corresponding to the 24h -1.93% move; if price gets above it, I’ll take the loss.
My first target is 2380, about 1.2% below 2410. For now, I’ll watch for a pullback in line with the 24h decline of 1.93%. Then I’ll look at 2350, about 2.5% lower. A break below that would mean the crowded long positioning at 3.04 is continuing to unwind. If you’re holding longs, are you willing to ride it out to 2450?
Short $ETH .
#Binance #ETH #行情 #Review