ETH 2900: The Last Breath of the Bulls
Just sent off Lao Li, he looked ashen.
Today, he asked me eight times: “
$ETH 2900 can hold?”
I saw him trembling, poured him a cup of hot tea, and only said one honest thing:
“Cannot hold.”
Many people stubbornly hold on at this level, betting on “long decline, then rise.”
But in the eyes of institutions, 2900 is not a bottom, it’s a fat piece of meat.
Looking at the market, everyone is watching 2900.
Retail investors are placing long orders here, big players are betting on a rebound.
This means that below 2900, it’s densely packed with stop-loss orders.