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Midday ETH on November 20
The rhythm of the second pancake is the same as that of the large pancake. From the recent trend, after each round of rebound, it is inevitably subjected to a second pressure from the bears, with support levels continuously breaking, and the rebound shows no continuity.
This round of market recovery is by no means a signal of a bullish reversal; it is more like a transitional phase for building momentum for further downside. Therefore, like Bitcoin, we continue to hold a bearish outlook and short the market, acting in accordance with the trend, as bottom-fishing carries risks!
Short positions are set between 3080-3130, with targets looking down towards 3000 and around 2900.
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