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Extreme oversold has levels, this time really differently.
I have already heard the story of SOL and XRP — the passion for a rebound flares up in a short period, while the cold cruelty of the long period still weighs down, and in the end, nothing happens. When I just got out, I was actually a bit disappointed, the whole market is shouting, but there is not a single clear melody.
But the data on ETH caught my attention. The RSI has fallen to just over 13. This is not just oversold, it's an extremely oversold situation after strong pressure. SOL at 28.8 is still testing the lower edge, ETH is already at a different level. The moving average on the 4-hour chart continues to push down, the MACD is in the deep black zone, such a state of "full pressure" often accumulates strength for a rebound.
This is not the rhythm of the last two times. The last two times it was a trial listening, and this time I understood everything.
$3158 At this level, open a long position of 0.317 lots with 5x leverage. The stop-loss is set at $3149, looking up at $3185. The margin share is still moderate, without greed. Because I know that the long-term downtrend still exists, short positions on BTC are also being held. This long position is a reaction to the short-term breath of the market - an inevitable inhale after it was heavily scared and reached the bottom.
Not radically, but confirmation. In such a disharmonious environment, sometimes the clearest voice is worth listening to.
#ETH #抄底 #GateAI人机对抗赛 #GatePerps