Main focus $ETH | Strategy: Short, each high is lower than the previous one, short orders queued to enter
Initial operation: $ETH's high points this week slid from 2788 to 2743 then to 2724, each high lower than the last. Today it touched 2720 but was pushed back, bouncing a couple of times like a "hello" and then losing momentum. Shorting is just right, place shorts at 2690-2700, stop loss at 2735 (above the 2724 swing high), first target 2640, second target 2626. 3x leverage, starting with a risk-reward ratio of 1.6. The fee rate is only 0.002%, longs pay very little every 8 hours, no one wants to hold longs.
$ETH's descending channel is narrowing
From 9/22's 2788 to today's 2668, $ETH hasn't crashed much, but the highs are quietly getting lower: 2788 to 2743 to 2724 to 2720, each rebound is suppressed lower. The support at 2626 held twice (9/23 and 9/27), but the strength is weakening—on 9/23 it dropped to 2626 and bounced back sharply, on 9/27 it dropped to 2634 and then stalled. This pattern shows bulls are fighting for rebounds within the descending channel, while bears are waiting for new lows. The upper shadow at 2720 indicates selling pressure above is stronger than buying below. Don't chase shorts; wait for the price to return to 2690-2700 before placing orders, let the bears come to you.
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