$ETH Short-term is very weak, with even small rebounds failing to reach 2350, and it drops again after a slight bounce, now firmly forming a triangle convergence, with the price pressed near the lower support.

Liquidation & Chip Situation

The liquidation that should have happened this morning is almost done, only a little long position chips around 2288 remain; even if the market maker wants to induce a short squeeze and take out this last bit, it's fine, but the previous low at 2263 will definitely not be broken.

This time, the quick drop touched the lower edge of the triangle and quickly recovered, indicating that this support line is very strong and not easily broken through.

What’s next

If the support doesn’t break, it must go up, clearing the above chips! There’s still a large pile of long positions above 2350; once a rebound begins, there’s a high probability it will test the upper edge of the triangle around 2400.

Around 2400: go short directly, as there is heavy resistance here.

Currently, on smaller timeframes, a clear sign of a bottom has appeared: buy on the dips first, then short on the way up. This wave can profit from both sides.

If there’s no signal, don’t act; wait for the pattern to choose a direction, don’t blindly throw money away.

If the lower edge can hold, first push up to 2400 then short; if it breaks, follow the trend down, don’t hold recklessly!

#TROLL两日涨超160% #Gate广场五月交易分享