Do we still need to guess the reason for this rapid decline? Wasn't the short position of BTC opened by Lao Deng yesterday accurate enough? Lao Deng's BTC short position is not panicking at all. Let's talk about ETH. After all, BTC still seems to be volatile for a while.
Did you know that several major events yesterday were not clear? The Middle East war started again (the main reason!). Lao Sun withdrew 7127.9 ETH from Binance (suspected)! Bitcoin spot ETF had a total net outflow of US$121 million yesterday, and the ETF net asset ratio reached 4.25%! Lao Deng stated the facts objectively.
Now looking at the dynamics of ETH, from the perspective of the capital plate, retail investors are fleeing and large orders are buying. There is a suspicion of washing the market, but when will this market be washed? Let's look at the range of 3101.7-3186 in Lao Deng's figure. If there is no fund or hot money driving this range, it feels that it will continue to fluctuate here today!
Lao Deng's strategy for this wave of ETH is to open long at 3101-3060, with a stop loss of 3000. It is recommended to open a small order for trial and error;
Follow Lao Deng's BTC short order and continue to hold it. Do not stop profit until it reaches 65200! (Please note that it is to open a short order following Lao Deng, not to open a short at this position)
