The ETH death line, if it doesn't break 2060, it's a trap; if it breaks, it's a bottomless abyss!
Brothers, don't be fooled by that little rebound. Today ETH is hovering around 2060, looking stable, but in fact, it's a continuation of the downtrend. On the 4-hour chart, the MA moving averages are firmly pressing down on the price, and the MACD is crossing down below the zero axis, a typical bearish formation. If this position can't hold, the next stop is directly at 2000 or even 1980.
I personally believe this wave of decline is due to macro factors. Today, Federal Reserve officials came out hawkish again, the situation in the Middle East is causing oil prices to soar, and inflation expectations are rising again. Big funds are now afraid to touch risk assets and are withdrawing completely. Plus, there has been a net outflow from ETH spot ETFs in the past few days, institutions are all running away, and if you're bottom-fishing here, you're just acting as a liquidity provider for the big funds.
In terms of operations, I'm being cautious. Those without positions should just watch; don’t get itchy hands; those with positions, 2060 is the stop-loss line, if it breaks, cut losses immediately, don't talk about faith. In this market, staying alive is more important than making money.
Do you think 2060 can hold? Let me know in the comments; if it breaks below 2000, are you planning to cut losses or add to your position?
Is it possible to turn 50,000 U into 500,000 U? What I want to say is, it’s only been 3 months, a new round of capital turnover training camp is being prepared, if you want to keep up and witness, 聊天室集合!