Main focus $ETH | Strategy: Short, invitation for fake breakout, bears keep it safe
First, put the order on the table: $ETH on 9/29 surged to 2749.17 during the day, hitting a seven-day high, but closed down at 2676, with a long upper shadow towering high. Bulls who chased the high haven’t even recovered their smiles before being pushed underwater, only able to cry out "I really have no move left." Even worse, on the day of the surge, OI actually shrank by 79 million U — the pump wasn’t new money, it was bears covering shorts; the show is over once the act ends. Direction: short at 2700-2720, stop loss at 2752 (above the 2749 upper shadow peak), first target 2650, second target 2626, 3x leverage. Reason in one sentence: Four attempts in a week to break through the 2720-2750 selling zone, all rejected; after a fake breakout, it’s time to pay the piper.
A quick note on $BTC$BTC current price 83,323, weekly highs dropping from 85,224 to 85,146, 84,966, then 84,555 on 9/29, each lower than the last, a tough pair with $ETH. On 9/28, it tested support at 82,500 and bounced slightly; ETFs absorbed $2.39 billion in a week but price acted dead, OI drained 580 million U over six days, leverage positions are retreating. Short-term play with $BTC: short on rebound at 84,400-84,600, stop loss 85,250, target 82,500
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