ETH's Last Supper: The Critical Moment Behind the RSI Breakout

In the early hours, while most traders are still asleep, the market is telling a story of greed and fear. My ETH position is at a critical juncture — not only have I not set a stop loss, but I am also considering a reverse short. This is not reckless; it’s based on a calm observation of market structure.

RSI Breakout: A Warning Sign of an Overbought Trap

The first technical warning comes from the Relative Strength Index (RSI) breaking above 80 into the overbought zone. When RSI enters this extreme territory, what does history tell us? Usually, it signals a reversal ahead. This is not just a numerical indicator breach; it represents that market sentiment has been stretched to the limit. As the price pushes into the 2970-2980 range, buying momentum is already beginning to fade.

The $1 Million Iron Wall: The Truth About the Funds

But what truly convinced me to short is the massive order on the order book: at the 2974 level, a $1 million sell order stands like an iron wall. This isn’t scattered retail selling; it’s big money defending. When institutions or large players accumulate such enormous sell pressure at a certain price, they are sending a clear signal: this is the ceiling, and突破者不受欢迎. Any attempt to break through this barrier will face being swallowed.

Retail Traders’ Last Supper: The Market’s Psychological Game

Meanwhile, retail traders are still dreaming of breaking the 3000 mark. This obsession is exactly what institutions love to see — it means continuous chasing buy orders, which will eventually become liquidators forced to close positions. When the market is filled with such short-term optimism, big funds see an opportunity to clear out.

My Trading Decision: Going Against the Trend

Based on the above analysis, my actions are as follows:

Trading Instrument: ETH perpetual contract short

Entry Zone: 2970-2980 range

Trading Logic: The massive $1 million sell order combined with RSI in severe overbought territory forms a perfect short signal

Stop Loss: 2988 (this is my honor line. As a seasoned trader, I believe that cutting losses early is better than holding onto losing positions)

Target Level: 2855 (recover last night’s lows and fully retrace this rebound)

The Last Supper: The Dialogue Between Institutions and Retail Traders

This is the last supper — for those blindly chasing higher, it may be the final meal of this rally; for institutions, it’s the last chance to unload. The $1 million order is not just a number; it reflects the power struggle among market participants. I don’t rely on candlestick patterns or analyst noise; I only watch who is sacrificing — ultimately, price follows the strongest force.

Now, we wait to see how this power struggle unfolds.