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#ETH After the violent washout, how should ETH move forward? Is the bull market over?
I'm not sure if yesterday's violent washout kept up with last night's market momentum.
🖥️Today's Market Rhythm
Today, influenced by Bitcoin liquidity rotation and US stock market movements, ETH showed a significant pullback. Positive factors include BlackRock ETF large inflows (148.9 million), SEC classifying ETH as a digital commodity, etc., but short-term profit-taking + overbought signals are dominating, with weakness in the short term.
The Fed meeting remains bearish.
The current market looks more like a pullback relay in a bear market.
🚘 Today's Strategy
Short Positions:
Short entry point: Around 2240
Stop loss: 2266
Take profit: 2122
Long Positions:
Long entry point: Around 2120
Stop loss: 2088
Take profit: 2200-2240
Today's trend is bearish, please keep long positions light and set your stop losses. Same goes for short positions.
Wishing everyone big profits today😋