ETH2900 Reversal? Don't worry, let the bullets fly a little longer

The tea has gone bland, switched to a glass of plain water.

Once a person calms down, the market chart becomes especially clear.

The square is still noisy: bulls shout "Double bottom support," bears shout "The waterfall is coming."

I didn't speak, just silently extended the 4-hour chart to take a look.

A fellow trader DM'd me: "Brother Bao, $ETH 2950 has held several times, is it finally over?"

I only asked in return:
"If you are the main force and really want to push the market up, would you let retail traders keep re-entering at such comfortable levels?"

📉 The logic is very clear:
Structurally: Higher highs keep decreasing (3400 -> 3200 -> 3050), a typical bearish trend.

In terms of volume: rebounds with decreasing volume. Rising on decreasing volume is mostly a trap to lure more buyers.
2950 indeed has support, but right now it's like a piece of tempered glass being repeatedly struck. The first hit didn't break it, the second crack appeared.

Now it's the third hit—how long do you think it can hold?

Trading logic
Current price 2970, do not chase short. The risk-reward ratio is terrible, easy to get slapped back by a rebound.
Before the main force really drops, they will likely do a "fake move"—a quick upward spike to wipe out nearby stop-losses, then smoothly harvest the chasing bulls.
I don’t gamble with my life, I only do high-probability things.

【Old Bao· Combat Plan】
🎯 Entry zone: patiently wait for a rebound. 2988 - 3015 range, staggered short entries.
🛡️ Defensive (stop-loss): 3048. If the candlestick closes firmly above, cut losses and admit mistake.
💰 Target (take profit): First target 2920; if broken, hold and watch 2870→2830.
In trading, the biggest fear isn't loss, but obsession.
I'm now watching 2988 closely.

If not at the right level, drink tea and watch the show;
If at the level, draw the sword and get to work.