If you’re buying every $ETH pump into $2.7K after this 200day EMA rejection, you’re exit liquidity.

You can ignore 1 rejection at the 200-day EMA, but you can’t ignore 3.
That $ETH 200-day EMA was the big make or break level, and we just got a clean rejection off it (red circle).
The whole move basically played out as a classic squeeze into major resistance, we pushed up into the EMA200 / prior supply, stalled exactly where we kept getting rejected before, and then price rolled over hard.
Now we’re back below the key pivot zone around $2.7K (that level is no longer support, it’s resistance), which shifts the short-term bias bearish until proven otherwise.
From here, the only thing I care about is whether ETH can base and reclaim $2.7K again
if it can’t, the path of least resistance is more chop/downside with the next meaningful demand sitting around the $2.3K area, then the deeper support band below that ($1.8K zone).
If we do reclaim $2.7K with a proper close and hold, then this whole dump becomes a nasty deviation and we can start talking about a rotation back up toward the mid-$3Ks again
but until that happens, the 200 EMA rejection is the signal, and rallies are more likely to get sold.$ETH ‌