$ETH I am leaning towards a bearish trend based on the current whale movements.
Do not ignore these numbers: 1251 whales are dominating the market with huge sell orders worth $1.63 billion, the drop is not over yet.
Proposed trading plan (Scalp Short):
Sell Entry (Short): from $1951 to $1965
Take Profit: $1930, $1910, and $1890
Stop Loss: $1985
Risk management is essential, and do your own research (DYOR).
My logical analysis of the current situation:
I see a clear dominance of bears in the data before us. There are 1251 whales opening short positions and they are winning over 86% of the time, while there are only 827 whales in long positions who are stuck with losses exceeding $272 million. The most concerning point is that the average entry price for buyers is $2586, which means they are very far from the current price ($1951), creating strong selling pressure as they may have to close at any slight rebound to minimize their losses. I see that breaking below the $1950 level will open the door for further rapid declines.
What do you think of these whale movements, do you expect the decline to continue or a surprise to happen? Share with us in the comments.