It's a new week again, good morning everyone!
The overall volatility over the weekend was not too large, but the bulls made a small effort. The upward trend continued yesterday, refreshing the high point to reach around 105000 before facing pressure and starting to adjust. In the early morning, after a rebound touching around 104700, the price could not break through again, and bullish sentiment has somewhat slowed down. Currently, it is fluctuating and retreating around 103600, maintaining a consolidation rhythm.
In the four-hour chart, the K-line is currently in an ascending flag pattern, with a clear box structure. The EMA15 trend line support has come to around 103000. If it retraces to this position and does not break, one can continue to try to go long, but it is recommended to enter with a light position. Meanwhile, the MACD continues to shrink downward, with a top divergence continuing. The DIF and DEA are expanding downward at a high level, coupled with the contraction of the Bollinger Bands, indicating a short-term need for further adjustment. As long as the price can maintain around 101800, the bulls still have a possibility of continuing to attack and refresh the high points.
For Monday morning's short-term strategy, everyone should clear positions and go long around 103000, increase positions around 101800, and defend at 101000, while first focusing on yesterday's high point around 105000! Regarding Ethereum, after a spike to around 2600 yesterday, there was a significant pullback, but the overall shape is still in a bullish structure. A pullback to around 2450 in the morning can continue to go long, with the previous high around 2600 also being the first focus above!
