$ETH Evening Thoughts:
The second cake might disappoint everyone in terms of rising, but it has never let anyone down when it comes to falling, haha.
You tell me if the second cake has ever disappointed you in its fall; it seems like never, right! The second cake is falling tightly, afraid of being left behind by others.
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Talking with pictures: The second cake has successfully stabilized above the EMA 20-day moving average on the daily level; I hope tomorrow morning's daily closing price can still close above the daily level EMA 20-day moving average, otherwise, it will be quite cold.
If the second cake breaks through 1746 with volume, chase long on the right side; if it breaks down 1739 with volume, chase short on the right side, pay attention to the changes in volume, and set your stop-loss properly.
The second cake needs to break and stabilize above 1760 on the hourly level to look upwards towards 1780-1808; if it can't go up, just hang around here!
On the 4-hour level, if it breaks down 1722, look at the target positions below 1691-1659. I remember the second cake is not a factory that opens its doors? If you draw the door down, drawing another door up will yield better results.
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Continuing to look at the picture, the price circled in yellow on the 4-hour level is 1758. If the 4-hour candlestick closing price cannot close above 1758, then it's done. Let's look at the left side where this bearish candlestick is circled in yellow; here is a vacuum area that drops through directly without looking back.
Just like the bearish candlestick drawn on the right, it goes straight to the bottom, so the position of 1758 is very important, and we need to pay close attention to the 4-hour closing price. If it can close above, it will continue to surge upward; if it can't close above, then goodbye, no time to wave, meeting adjourned.
