Focus on $ETH | Strategy: Short, sell first, then chat
Today the focus is on $ETH, with a short direction. Short on the rebound at 2,715-2,728, stop loss at 2,742 (above the 10/05 high of 2,737.61 to leave some room), target T1 2,676 / T2 2,648, leverage capped at 3x.
Why not go long: $ETH hit the 2,738 barrier twice in two days but couldn't break through. On 10/04 it touched 2,738.68 and pulled back, on 10/05 it touched 2,737.61 and pulled back again. The bulls dragged it to the city gate but dared not enter. Coupled with today's net open interest outflow of 60.6 million and the fee rate slashed from yesterday's 0.0066% to today's 0.0016%, the bulls' rent is effectively discounted by 70%, who would want to go against the wind? The current price is 2,697.73, about 40 points away from that thin resistance above. Instead of forcing the top, better wait for it to bounce up and then strike.
A quick complaint: The bulls are trembling like a "bear shivering its fur"—the fur is shaking loudly, but the body hasn't moved forward even half a step. So let's not shake with it, "sidestep" and wait to strike when it bounces to the wall.
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