This wave of $ETH's sharp decline and shakeout has indeed taken a lot of retail and large investors' long positions. From the candlestick chart, there's still disagreement in the market whether yesterday's 3030 level is the top. But here's the problem—since long positions have been heavily liquidated, the risk for short positions is actually accumulating. Should we consider a contrarian approach and wait for a rebound opportunity?

Looking at $ALCH, with a market cap of 189 million, it's not small. Currently, there are indeed quite a few people shorting. In this situation, we need to be cautious about a sudden spike upward. My strategy is to participate with a 0.24 stop loss, so even if I'm caught, the loss remains manageable.

The reason for shorting this coin is solid: the 4-hour chart has already formed a bearish divergence pattern, with obvious selling pressure above the order book, and the capital flow indicates that buying momentum can't sustain, keeping the price under continuous pressure. This kind of signal has some technical reference value. But the premise is that risk management must be well done—stop losses can't be skipped, and position sizes shouldn't be greedy. In such a volatile market phase, staying alive is more important than how much you win.