Why is ETH going against BTC today?
This time, both are no longer on the same path.
1. The price has fallen too far from the EMA200 line, creating a vast gap. The tighter the squeeze, the stronger the rebound.
2. RSI is oversold, 2,600 is a strong psychological barrier, and the rejection candle has denied further declines.
3. Bad news is everywhere, ETF dumping, everyone is predicting a drop to 2000-2200.
But take a close look:
The Short orders are three times the Long orders. This is a goldmine for MM.
Just a slight push, a series of chasing Short orders will get cut off, creating momentum to push the price back up to 2,900.
4. Trading the rebound. quick entry and exit
* Entry: limit range 2,550 – 2,620.
When the whole market wants to sell, MM will accumulate. Follow the market maker, take this rebound and then reassess.
