$ETH Evening Thoughts:
The first hourly high point for the second currency is 2738, and the next high point that appeared yesterday is 2734, just 4 dollars shy of the previous high. The second currency is still weak! 85% of the funds in the cryptocurrency market are tied up in the first currency; only when the first currency stops rising will some funds spill over to the second currency.
For those looking at the second currency recently reaching 3000 or 3300, you may have to wait a while longer.
Everyone, switch the chart to a 4-hour level. If a double-top pin bar forms on the 4-hour level, it could be disastrous.
There would be a high probability of dropping back down from where it started rising, the only way to break this pattern is to directly surpass the second currency's hourly previous high of 2738; otherwise, it’s quite dangerous.
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Speaking through the chart: Why can't the second currency stabilize at the 2700 round number? Please take a look at the chart; the Fibonacci 1:1 upward target position for the second currency at the hourly level is precisely 2714. It can also be said that this wave of upward movement at the hourly level has already reached its target, having touched 2714, so it is reasonable for the second currency not to stabilize at 2700 and not to operate above 2700; there is no need to overthink it.
For the second currency, break above 2688 with volume to chase long positions; if it drops below 2666 with volume, chase short positions. Pay attention to changes in volume and set your stop-loss appropriately.
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If the second currency can break and stabilize above 2700, the target positions above would be 2727-2756; if it cannot stabilize, it won't be useful.
At the 4-hour level, a drop below 2651 looks down towards 2603-2558.
Continuing with the chart: If we look at the second currency at the hourly level according to wave theory, it currently needs to go through a 4th wave correction. If the 4th wave correction does not break the 2nd wave's low, there will still be a 5th wave upward. If the 4th wave correction falls below the 2nd wave's low, then the 5th wave upward will cease to exist. The wave structure I drew is not very standard; just take a look! Appropriate corrections help facilitate better upward movements. Meeting adjourned.