ETH 2960: Bull Reversal? Or Bottomless Depths?

It's the weekend, I should turn off the computer and spend time with my wife and kids.

That group of "gamblers" is causing trouble again, constantly @me, asking if ETH has finally bottomed out?

I took a quick look at the chart, $ETH 2960.

The memory of retail investors really only lasts seven seconds.

A few days ago, when it plummeted from 3400 like a waterfall, everyone was shouting for their parents. Now it’s just slightly sideways, but the scars haven’t healed yet, and they forget the pain.

This week, the main force wielded the sickle too harshly, blood hasn’t dried yet.
Look at that 4-hour chart.

This is a classic “dull knife cutting meat.”

Previously, it crashed all the way down to 2864—that was a sharp decline, life-threatening.

And now? Now it’s feeding you “sleeping pills.”

The price is hovering around 2960, not going up or down.
What does this look like?
Like a scumbag telling you, “Let’s cool down.”
You think he’s trying to change his mind?
Don’t be naive, he’s just looking for an excuse to break up completely.

This candlestick looks like it’s building a bottom, but actually it’s enticing more buying. The main force has built a wall at around 3000, and even the previous high at 3020 doesn’t have the strength to touch it.

The longer it stays sideways at this level, the deeper it will fall later.

I asked Lao Li: “If you were doing business now and couldn’t sell your goods, would you lower the price to clear inventory or raise the price and hold firm?”
Lao Li hesitated: “Definitely lower the price.”
I said: “Then why do you think ETH will go up?”

On this chart, the highs are getting lower and lower.
In the 15-minute timeframe, even 2980 can’t hold steady.
The bulls have long been defeated.

Those still stubbornly holding on are people like Lao Li, unwilling to admit defeat.

The main force’s favorite prey is this kind of “slow death.”

This weekend, we’re not talking about big market moves, just about how to survive.

The current strategy is six words: Follow the trend, Light positions, Quick exit.
Don’t expect a big rebound to save you.
In this kind of downward drift, rebounds are just setups for sharper declines.

Trading advice (for reference only, profit and loss at your own risk):
Direction: Short (continue to be bearish).
Entry: Don’t wait for 3000, it’s not coming. Around 2975 - 2985, as long as it can’t go higher, that’s a short entry point.
Stop-loss: 3025.
Target: First look at 2920, if broken, head straight for 2835.

Mindset: The weekend is just earning some pocket money, don’t bet your life with heavy positions.
Lao Li listened in silence for a long time.
Finally, he sighed and put his phone on the table: “Let’s have some tea.”
People, the hardest thing isn’t understanding candlestick charts.
It’s admitting you were wrong.