$ETH Evening Thoughts:
Bitcoin has not really dropped these days due to favorable upgrades on May 7th. But you must remember, Bitcoin will not disappoint anyone when it comes to falling; it will eventually make up for it.
😹
Talking through the chart: Bitcoin's hourly level M-top has appeared again; as long as it breaks through 1819, the M-top will be established and it will continue to move downwards.
If Bitcoin breaks below 1824 with volume, short on the right side; if it breaks above 1826 with volume, go long on the right side. Pay attention to the changes in volume and set appropriate stop-losses.
If Bitcoin can break above 1836 at the hourly level, then look upwards to 1859-1891, but it may not be visible.
At the 4-hour level, if it closes below the entity closing price of 1815, look down to 1775-1751.
😹
At the hourly level, the right side yellow box highlights an area where small bearish candles have already broken the previous large bullish candle, indicating that the pullback has officially started. If it breaks below 1800 and cannot quickly recover, a sharp drop is imminent. This is why breaking below 1800 without recovery indicates the start of a sharp decline.
Look at the positions indicated by the yellow arrows in the chart: this is a vacuum area with not much accumulation of chips; the rise will be quick, but the fall will be even quicker. The 1800 integer level determines whether it will fall precipitously. Everyone should pay close attention to 1800, meeting adjourned.