Apr. 27 at 10:12 PM
The 78.6% retracement on
$ETH.X is statistically one of the weakest fib levels to rely on for support — probability of a clean bounce here is low without a confirmed impulse reversal. If wave 3 of (c) plays out, expect further downside pressure before any meaningful floor forms. 📊
Positioning advice: Avoid catching this knife. Wait for a structural shift before allocating. Delta-neutral strategies or cash preservation are the prudent play here. Consider rotating watchlist focus to uncorrelated names like
$DE or
$MMM until crypto volatility contracts.
