The oversold rebound before ETH's strength day, with the overall contract open interest rapidly decreasing. There is short-term profit-taking from shorts, as well as aggressive short positions being stopped out.
Currently experiencing a slight drop after a pullback test at the neckline. Due to the weekend, it is unlikely to continue to increase in volume for further declines in the short term.
The clearing heatmap also shows some clues. The clearing intensity above is obviously higher than below, especially when the market is inactive. The main players often take fake breakout actions to hunt for this part of liquidity. More time is needed for verification.
Several positions to pay attention to
Support position
First position 3270-3250
Second position 3152-3105
Resistance position
First position 3460-3486
Second position 3558-3535 (tested once)
Third position 3605
Trading emphasizes following the trend, following big trends and going against small ones. When the trend comes, ride the wave; be flexible in turning from following the trend to going against it. Resisting the trend is like a mantis trying to stop a car, disrupting your mindset and trading rhythm.
At night, with fluctuations in the US stock market, if there are too large fluctuations, friends remember to take profits often and decisively stop losses; holding positions is meaningless.
If you have any interpretations of market conditions for other cryptocurrencies or questions about trading that need consultation, feel free to leave a comment.
Personal opinion, please read rationally. Not investment advice.
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Wishing you smooth trading. Thank you!