【$ETH Signal】Empty position, waiting for downward momentum to exhaust

$ETH A waterfall decline appeared on the 4-hour chart, with a single candle dropping over 7%. Currently, the price is consolidating weakly in the 1925-1930 range. Market logic suggests a short squeeze or main force distribution, combined with a -0.02% funding rate, indicating a dominant bearish sentiment. No effective buying support is seen on the order book; the depth chart shows the sell side (1927.97) has significantly more orders than the buy side, creating strong resistance to a rebound.
🎯 Direction: Empty position (NoPosition)
Price action shows strong downward momentum. The last 4-hour candle has a very small body, but it has not formed an effective pin bar or bullish engulfing pattern, only a continuation of the decline. Until clear bottom structures (such as double bottoms, divergence, or volume-increasing bullish candles) or evidence of buy absorption appear, any bottom-fishing attempts are contrarian bets. Be patient and wait for the price to show signs of stabilization at key support levels (such as the 1900 psychological level or previous lows) and for the funding rate to return to neutral before reassessing long opportunities.
Trade here: 👇 $ETH
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‍#Gate广场创作者新春激励
#Is the current market bottoming or just observing?