$ETH price drop accompanied by high trading volume, market logic suggests that one must combine open interest to determine whether it is a long liquidation or a major player offloading. Current market signals are contradictory, lacking a clear one-sided driving structure.
🎯 Direction: Flat position
Price action indicates selling pressure, but high trading volume may imply a liquidity event rather than the start of a trend. Until it's clear whether it is a healthy long liquidation (to clear for subsequent rises) or a major player continuously offloading, the best strategy is to wait. Market psychology is in a game of chance, and prices have not formed effective absorption or breakout structures.
Trade here 👇$ETH
ETHUSDT
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1,954.75
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BTCUSDT
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