Main focus $ETH | Strategy: short on rebound, the floor bounced a bit, the ceiling hasn't moved at all
$ETH current price 2,493, direction short, order placed not far above the head. Short on rebound to 2,535-2,575 — the floor that was broken through a couple of days ago is now converted into the ceiling; stop loss at 2,630, target first at 2,405 (7-day low), if broken down then to 2,357, leverage capped at 3x. Reason in one sentence: since falling from 2,739, every floor that collapsed has been conveniently turned into the next ceiling. The 2,535 level smashed on 10/07 and the upper edge of the bearish candle body at 2,572-2,587 on 10/08 are all lined up overhead waiting for a rebound to deliver shorting opportunities. $ETH bulls have been on a deep "pain city" tour these past two days: numb feet, numb accounts, and even losing money on checkout. Today's small-volume bullish candle finally shows some "signs of life," unlike the machine orders exploding everywhere the past two days — but until the ceiling moves, live traders shouldn't rush upstairs.
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