These past two days, ETH has been hovering around 3000, and many people are starting to get restless. Everyone is thinking this is the bottom and wondering whether to go all in. But if you look closely at the candlestick charts, things are not that simple.
On the surface, the price is supported around 3010, and many technical indicators are calling for a quick bull return, with main players defending the market. But if you switch to the 4-hour chart, you'll notice a detail: trading volume is shrinking to an alarming degree. This doesn't look like main players are defending the market; instead, it resembles gasping at the ICU door — still breathing, but with very little vitality.
This is a typical grind market. The price isn't moving downward, giving an illusion of a "bottom," then slowly cutting through with dull knives. The most damaging part is this, because it fills you with false hope.
The real pressure zone is between 3065 and 3080. This area is full of trapped positions — previous support levels that look like a mass grave. If the price bounces up, those trapped traders' stop-loss orders will be triggered, forcing the price back down. This is the main players' favorite point for harvesting.
So, what trading strategy should I adopt? If it were me, I would set up short positions in the 3065 to 3080 range. The logic is clear: either ETH continues to fall, and I stay put; or it bounces back, providing a perfect entry point. The stop-loss is set at 3130, because if the bulls can break through this level, it indicates that the big players might have changed, and their strategy could be entirely different. At that point, it's time to cut losses and step aside.
This is the healthy trading mindset — having the ability to identify opportunities and the awareness to control risks. Don't be fooled by claims of "iron bottom" or "guaranteed rise"; the market is not that simple.
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GateUser-e19e9c10
· 01-22 04:52
The shrinking volume is no joke. The gap around 3000 is just a trap to fool you. Don't fall for it.
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HashBandit
· 01-22 04:47
nah this volume collapse is giving "we're cooked" energy tbh. back in my mining days we'd see this exact pattern right before the rug got pulled... ROI calculations show this ain't bottoming yet fr
Reply0
RetailTherapist
· 01-22 04:34
The shrinking volume is really deadly. It looks like it's still alive, but in fact, it's already out of breath.
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ZenZKPlayer
· 01-22 04:29
The shrinking volume is like this, and you still have the nerve to talk about supporting the market? Laughable, even ICU gasping for air looks more lively.
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That level at 3065 is indeed heavily guarded, a rebound comes and then it drops straight back, this is the typical trick of cutting leeks.
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Don't go all-in, this kind of grinding market is the easiest way to lose everything, I'm really tired of seeing it.
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Setting the stop-loss at 3130 is not a problem, if the bulls can't break through, just admit defeat, there's no need to overthink.
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Every time someone calls for a bottom to rise, then during the plunge they shout the loudest, that's just how this market is.
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Looking at the 4-hour chart, you can tell what's going on, that volume is really shocking, feels like something big is coming.
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Bury short positions and wait for a rebound, this approach is much clearer and more reliable than those all-in brothers.
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Basically, it's just luck-driven psychology, always thinking you can catch the top, but in the end, you're cut clean.
These past two days, ETH has been hovering around 3000, and many people are starting to get restless. Everyone is thinking this is the bottom and wondering whether to go all in. But if you look closely at the candlestick charts, things are not that simple.
On the surface, the price is supported around 3010, and many technical indicators are calling for a quick bull return, with main players defending the market. But if you switch to the 4-hour chart, you'll notice a detail: trading volume is shrinking to an alarming degree. This doesn't look like main players are defending the market; instead, it resembles gasping at the ICU door — still breathing, but with very little vitality.
This is a typical grind market. The price isn't moving downward, giving an illusion of a "bottom," then slowly cutting through with dull knives. The most damaging part is this, because it fills you with false hope.
The real pressure zone is between 3065 and 3080. This area is full of trapped positions — previous support levels that look like a mass grave. If the price bounces up, those trapped traders' stop-loss orders will be triggered, forcing the price back down. This is the main players' favorite point for harvesting.
So, what trading strategy should I adopt? If it were me, I would set up short positions in the 3065 to 3080 range. The logic is clear: either ETH continues to fall, and I stay put; or it bounces back, providing a perfect entry point. The stop-loss is set at 3130, because if the bulls can break through this level, it indicates that the big players might have changed, and their strategy could be entirely different. At that point, it's time to cut losses and step aside.
This is the healthy trading mindset — having the ability to identify opportunities and the awareness to control risks. Don't be fooled by claims of "iron bottom" or "guaranteed rise"; the market is not that simple.