Morning Thoughts on October 5

Ethereum's 4-hour chart remains in a high-level consolidation, and there hasn't been a surge followed by a pullback so far today, but rather a horizontal consolidation at a high level. The short-term upward momentum is weakening, but the pullback space is currently limited, oscillating back and forth within a small range, considering that the 4-hour chart is at the tail end of a third wave. Before any pullback occurs, the upward space is limited, which may lead to early pressure or a false breakout followed by pressure again. Currently, the short-term rhythm has slowed down, making it difficult to maintain a strong upward trend. Today, the short-term strategy should treat the market similarly to Bitcoin, continuing to approach it with low volatility; if it breaks the mid-range, adjustments will be made.

Trading Suggestions

Long in the 2300-2250 area for Ethereum, target 2400

Long in the 102000 area for Bitcoin, target 103500