This wave of decline is not a rebound but an accelerated sell-off after the complete breakdown of the ascending wedge pattern. There is no suspense about the support level; it was broken through instantly. The small V-shaped reversal yesterday? Frankly, it was just a trap to lure in buyers, with retail investors chasing in all the way, only to turn around at 90,000 and cut losses, suffering losses.

Forget about bottom-fishing for now. Really. This downward trend is far from over; the bulls must wait until the 80,000 to 83,000 range to have a chance. Entering before 83,000 is just giving free money to the bears. Once the pattern completes, the price will inevitably retest the 80,000 level. A small-scale bearish rebound with decreasing volume? That rebound can't change the overall situation at all. Even if there's a strong rebound, it will at most reach 88,000; if weaker, it will top out at 87,000. Rebound opportunities? That’s just a window for shorting, not for going long.

The 4-hour chart has already confirmed a breakdown. The region around 87,000-88,000 is where to go short directly, targeting 83,000. On the daily chart, there’s not even a sign of stopping the decline, which is very fierce. Once the 83,000 support is broken, the next support level will be the real slaughterhouse—75,000. Remember: the trend is everything; shorting on rebounds is the right choice.

#大户持仓变化 $ETH