$ETH Evening Thoughts:
The second pancake is now holding back a surge, ready to take off, but the second pancake is the younger sibling and mustn't be too flamboyant or steal the older brother's thunder.
As long as the big pancake rises just a little bit, the second pancake will rush out of the runway directly. The second pancake is now in such a state, about to explode.
The second pancake is currently forcefully suppressing itself, holding steady and preparing to welcome its takeoff.
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Talking through the chart: The two pins pointed by the yellow arrows on the four-hour level of the second pancake are the big hands suppressing it.
As long as these two pins are broken through, a smooth path ahead will allow the second pancake to run freely. If it cannot break through, the danger remains and is not lifted.
When the second pancake breaks through 2647 with volume, chase the long position on the right; if it drops below 2635 with volume, chase the short position on the right. Pay attention to changes in volume and set your stop-loss.
If the second pancake can stand firm at 2650 after breaking through on the hourly level, we look directly at the target positions above 2699-2735. Whether it can break through 2650 depends on whether the second pancake can continue to rise.
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If the 2601 level on the four-hour chart is broken and not reclaimed in time, look down at 2684-2549. Don’t let it drop below 2600, or else all the efforts of the second pancake will be in vain.
Continuing to look at the chart: The second pancake at the eight-hour level needs to form a W-bottom shape first by breaking through the previous high of 2788, which will naturally shape the W-bottom on the eight-hour level.
Once the eight-hour level W-bottom is formed, 2850 will really come. I hope everyone has a mental expectation and doesn't get flustered when 2850 arrives. In trading, one must be like a weather vane, especially in short-term trading, and go with the flow. Those who resist will get beaten up. Meeting adjourned.
