$ETH Evening Thoughts:
The second pancake is done, right? It's not strong anymore, right? It's all wilted, right? What happened to that strong momentum you had a few days ago, that defiant and indignant look? You need to pick yourself up! As soon as the big pancake trembles slightly, the second pancake will just take a taxi and run away, haha.
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Let’s talk about the chart: All the highs and lows of the second pancake are decreasing, and lower lows have already appeared. Are you still looking to go long against the market? Going long can only be a short-term play; it cannot be a strategy.
Remember, everyone, support is meant to be broken, and resistance will always remain resistance until it is broken.
Don’t think that just because you reached support, you should jump in; some supports are just a layer of paper that will break with a poke.
For the second pancake, if it breaks 2487 with volume, go long on the right side for a short-term play; if it breaks 2463 with volume, go short on the right side, and pay attention to changes in volume. Always set your stop-loss.
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If the second pancake breaks the hourly level of 2508, it can still move upwards; look for 2554-2581. Given the current exchange rate, it seems challenging for the second pancake to rise.
If the 4-hour level of 2450 is broken, we need to look for a pullback to 2405-2357.
Continuing to look at the chart: Isn’t this large M-top in the 2-hour chart obvious? It has already broken the neck line at 2504 and is currently retesting it. If the retest is successful, it will continue to oscillate; if the retest fails, it will go down, and a proper correction is due. Whichever direction is given first, go with that; don’t think about profiting from both sides. If you want to profit from both sides, you also need to be prepared for losses on both sides. Meeting adjourned.