The ETH exchange rate continues to break down. After the rebound, it shows a bearish flag structure, with obvious weakness recently.
Encountering shorts during the day again with increased volume. As the major illness begins to rebound, ETH follows the rebound, but the strength is significantly weaker.
After breaking below 4400, the high-level bullish structure has been broken. Pay attention to the price performance of the rebound test in this pressure zone in the evening.
After failing the test, you can enter a short position with a narrow stop loss around 4440-4400, and the risk-reward ratio is still acceptable.
If the evening pancake continues to rebound and break through, ETH will follow and stand back above 4400. The bulls will return to the high-level consolidation zone.
Reconsider the trend-following long position at that time.
Resistance above: 4503/4542/4583/4640/4682
Support below: 4330/4287/4237
#eth