Currently, I am holding an Ethereum short position. At 8:30 tonight, I also reminded everyone that you could try a small short position. The short is currently in floating profit. Regardless of the outcome, let me explain the rationale behind this trade.

Today's market is quite complicated. I posted this afternoon saying that BTC is bullish, but ETH is bearish, which is a divergence and greatly increases the difficulty of trading. Since the afternoon, both ETH and BTC have shown a choppy upward trend, and there was a decent gain by the evening. However, I don't think this is a sign to go long. From a macro perspective, today's afternoon rise can be understood as a retracement in a downtrend, just to recover costs and trap the longs. On the 1-hour chart, ETH has already retraced into the IFVG zone within the downtrend and is showing resistance to going higher. From the order flow, active sell orders are greater than active buy orders, which obviously shows that the big players are recovering costs with the intention to push the price down further. That’s why I called a trade in the community: short at 3130, stop at 3140. ETH was very cooperative, hitting a high of 3139.89. Next, I will continue to look down. If there is a spike in volume, I will reduce the position.