10.13 ETH Morning Thoughts

The midnight surge of ETH was too fierce, skyrocketing from 3800 all the way to 4200, creating a 400-point increase. But the faster the rise, the more it feels like a hidden danger— the more beautiful the fireworks, the closer they are to the explosion point. Don't be fooled by the impressive trading volume during this surge; upon closer inspection, it has shriveled. In plain terms, it means "many people are just watching, but few are really spending money." This is not a healthy upward trend; it's just a false fire that can be extinguished with a breeze— as soon as someone sells, the market will immediately collapse.
Personally, I suggest entering a short position around 4200-4230, with a stop loss set at 4300 and a target looking down at 4060-4000. If it breaks below, watch for 3800!
Xiao Zhuge also reminds everyone that the recent market is quite extreme, so be sure to manage your position reasonably, set stop-loss orders, and avoid getting overly excited.
$ETH #CoinDesk9月Gate战绩来袭 #Gate500万U交易计划来袭