📢 Gate Square #Creator Campaign Phase 1# is now live – support the launch of the PUMP token sale!
The viral Solana-based project Pump.Fun ($PUMP) is now live on Gate for public sale!
Join the Gate Square Creator Campaign, unleash your content power, and earn rewards!
📅 Campaign Period: July 11, 18:00 – July 15, 22:00 (UTC+8)
🎁 Total Prize Pool: $500 token rewards
✅ Event 1: Create & Post – Win Content Rewards
📅 Timeframe: July 12, 22:00 – July 15, 22:00 (UTC+8)
📌 How to Join:
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Announcement: BTC has fallen below 100,000 again, ETH has fallen below 2,000, bearish traders hold steady #BTC# #ETH# #SOL# #GT#
The current downward movement is a bear trap, with a significant amount of short positions entering at the small level, primarily using 50x-100x leverage, leading to an almost 100% probability of being liquidated. The key liquidation point is around 2620, and the rebound information at the bottom of the market is not strong, causing long positions to hesitate to enter frequently. Thus, the pullback presents an opportunity; at the very least, it can be confirmed that (even if it is going to fall, it must wash the 2580-2620 range once more).
If you do not wish to go long, you can wait to short near 2620 or build a position to short in batches at 2580, but do not chase shorts at this position, as the profit potential is minimal, and the risks are relatively high, with a poor risk-reward ratio.
Referring to Ethereum's large-level 4-hour, 8-hour, 12-hour naked K chart patterns, there has not been a formation of a downward trend, so now is not the best time to short; instead, one can try swing trading long positions.
Recently, the entry rate for ETH shorting has been high, and it needs to oscillate repeatedly to appropriately control the shorting sentiment before a significant drop can occur. Follow us to learn more, with timely strategy sharing and push notifications to help you navigate the encryption circle.
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