$ETH initial swing operation | Strategy long, $ETH surged from 1868 all the way to 2381, up 25% in 7 days, with a single-day spike of 17.5% on 8/19. This market action is more brain-massaging than a short drama.
3x leverage long on $ETH, buy on pullback at 2250, stop loss at 2218 (below the 8/20 low of 2222), target 2382, break through to watch 2500. Starting with a risk-reward ratio of 4:1.
Funding rate flipped from 0.005% to 0.01%, bulls are starting to pay but it's far from overheated. OI net inflow of $830 million over two days, smart money is chasing, not running. Don't chase highs, wait for pullbacks.
What's the market fussing about?
A-share Black Wednesday, Shanghai Composite dropped 2.4%, ChiNext fell 6.26%, 118 stocks hit limit down. US stocks are indifferent, Dow up slightly 0.22%, Nasdaq up 0.15%, calm and steady. Hong Kong Hang Seng Index closed flat with a 0.09% gain, Hang Seng Tech down 1.21%, tech sector continues to lie low.
$BTC and $ETH are completely different dimensions. $BTC surged from 63,000 to 75,000, up 19% in 7 days, with a big bullish candle breaking through the 70,000 integer level on 8/19. $ETH is even more outrageous, charging straight from 1868 to 2381, up a quarter in 7 days, plus 4.4% in 24 hours.
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