$ETH Evening Thoughts:
The second pancake has left me at a loss for words. Although the second pancake has been fluctuating up and down these past few days, it has not broken below 1780. It also hasn't broken above 1836, just bouncing back and forth within this range of around fifty dollars between 1780 and 1836. How much longer will the second pancake be stuck in this range?
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Talking through the chart: The daily EMA 20 for the second pancake has broken through and stabilized, but it is being suppressed by the daily EMA 50, which corresponds to a price of 1859. This is how easy it is to bully the second pancake!
Anyone can come in and press down on it. Either the second pancake won't break the EMA 50, or if it does break, it will soar into the starry sea, believe it or not.
If it breaks 1807 with volume, go long on the right side; if it breaks 1792 with volume, go short on the right side. Pay attention to the changes in volume and set good stop losses.
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On the hourly level, if it holds at 1812, look up to 1837-1891. I'm almost tired of writing this range; can the second pancake either break through or break down? I don't want to write about any operations in this range anymore.
On the 4-hour level, if it breaks below 1783, look down to 1750-1722. Tonight, pay attention to the GDP data at 8:30 and the PCE data at 10:00; both are very important data points. Set good stop losses, and that's all for now.