$ETH A one-way grind lower—bulls got buried again
Take a look at this 1-hour chart. It’s brutal. Price slid steadily from 2526 all the way down to 2393, without a single decent bounce along the way. It’s a classic slow bleed, grinding the bulls into the ground.
Why did it play out this way? Price had been stuck consolidating near the highs without breaking out, so too many positions piled up on the long side. On top of that, rate hike expectations were looming over the market. Once funds pulled out, it triggered a cascade of liquidations.
Now, around 2404, it may look like the decline has stalled, but the bulls have already been beaten into submission.
Trading logic: Don’t assume it’s cheap just because it’s dropped $130. After a sharp fall, sideways movement is often just a pause before the decline continues. Catching a falling knife here will most likely get you buried too.
Either wait for a second test of 2393 to hold, followed by a clear base and signs of stabilization, before considering a trade; or go short with the trend if a rebound gets rejected in the 2420–2440 resistance zone. Follow the trend—don’t gamble on a bottom. Don’t fight the trend and hold on stubbornly; staying in the game matters more than anything. For specific live-market turning points, come find me at Steel Fortress. #特斯拉盘前下跌5% #韩国KOSPI收跌3.52%至4月以来低点
Take a look at this 1-hour chart. It’s brutal. Price slid steadily from 2526 all the way down to 2393, without a single decent bounce along the way. It’s a classic slow bleed, grinding the bulls into the ground.
Why did it play out this way? Price had been stuck consolidating near the highs without breaking out, so too many positions piled up on the long side. On top of that, rate hike expectations were looming over the market. Once funds pulled out, it triggered a cascade of liquidations.
Now, around 2404, it may look like the decline has stalled, but the bulls have already been beaten into submission.
Trading logic: Don’t assume it’s cheap just because it’s dropped $130. After a sharp fall, sideways movement is often just a pause before the decline continues. Catching a falling knife here will most likely get you buried too.
Either wait for a second test of 2393 to hold, followed by a clear base and signs of stabilization, before considering a trade; or go short with the trend if a rebound gets rejected in the 2420–2440 resistance zone. Follow the trend—don’t gamble on a bottom. Don’t fight the trend and hold on stubbornly; staying in the game matters more than anything. For specific live-market turning points, come find me at Steel Fortress. #特斯拉盘前下跌5% #韩国KOSPI收跌3.52%至4月以来低点