Last night, the 4-hour chart showed a sharp upward spike, resulting in a very strong and violent inverted hammer candlestick pattern. It was a sharp drop to the bottom, equivalent to 300 million entering the market and immediately exiting with 350 million within an hour. First, high-leverage short positions were cleared out, then the price was immediately driven down to the low of the day before yesterday. ETH was even more volatile, rising to 3030 and then plummeting to a new low of 2788.
Therefore, never chase the market during a rally. A rapid rise will inevitably be followed by a rapid fall; it's usually a pump-and-dump scheme, a false rally. Any pullback has the potential to lure in more buyers. Avoid "bottom fishing" before a significant downward spike, as any "bottom fishing" you attempt is only a short-term long position and will become invalid within 12-24 hours.