ETH

The retracement at this minor secondary high has been quite strong. Although my trend prediction was correct, my positioning at the secondary high was off. I need to learn from this and review the analysis. The margin of error was slightly large, but as long as we're near the previous high, shorting remains the most cost-effective choice. Currently, price is approaching the secondary high again. I've already entered a short at 2200. From a 4h chart perspective, price is about to touch the resistance of the ascending wedge and rectangle's upper edge line.

Ascending wedge is a bearish pattern, and the upper area is a strong resistance zone that won't break through easily. So my prediction for this move is still that the probability of a bull trap is higher. Additionally, on the daily chart, although we're in a golden cross trend, volume has been continuously declining. Simply put, we're at golden cross but the price's volume increase is weak, with prices oscillating back and forth. The golden cross may be getting digested—once it is, it instantly becomes a death cross, basically the same as on 12/10, with volume continuously being weakened. The midline is very unfriendly to bulls, which is a signal of upward momentum decay.

From the liquidation map, there's a small probability that price touches around 2209u of liquidity on the minor level, but a higher probability of going down to clear out liquidity around 2150-2130, or even lower. Still, a top signal has already appeared. If price goes up to touch, it might accelerate to touch briefly, then immediately close a wick and come down. So I'll add to my short position at this level. If momentum is weak, it will just drop directly—I'll just leave space to add to my position. #Blockchain[Trending]#比特币站上七万美元