Brothers, the reason it can't rise at this time is clear.
Yesterday the meeting minutes were released, but they had no impact on the overall market, absolutely no reaction!
The main reason is that there are too many long positions; retail traders going long are countless.
Whether it's Bitcoin or Ethereum, retail longs are numerous.
Under this macro pressure and market condition, with so many retail longs, the willingness of the whales to pump the price is definitely very low.
Look at $ETH's movement, dropping from 2725 to 2536, now squeezed around 2569, the rebound can't even reach 2600.
All moving averages are pressing from above, every bullish candle is weak, like it hasn't eaten.
What about the volume? It keeps shrinking.
What does this indicate?
It means no one dares to buy with real money anymore; the rest are just talkative bulls.
My short position entered at 2689, now floating profit is 45%, haven't exited at all.
It's not that I don't want to exit, this market simply gives no room for bulls.
The more retail traders pile into longs, the less likely whales will pump; they'd rather smash it down, blow out all leverage, then pick up cheap chips.
This is the eternal harvesting logic in the crypto world.
In terms of operation, add to shorts on rebounds to 2600-2620, set stop loss above 2700, target first at 2450.
Don't be a hero in a downtrend; places where bulls crowd together never end well.
$BTC$ZEC#9月FOMC纪要公布，多数官员倾向再加息#ETF仍在流入，BTC为何下跌？
