During this period, I have been focusing on the Ethereum (ETH) market research, and I feel there are great opportunities this month. The longer it consolidates horizontally, the higher it will go vertically! A big market trend is about to arrive. There are usually only one or two big opportunities in a year; the consolidation around 1500 in April was one, and I estimate there will be another in June or July. When opportunities arise, we must grasp them well, hold onto good entry points firmly, and be brave enough to add positions at key pullback rebound levels to maximize profits.
To briefly discuss today's ETH trend, the short-term sentiment is still bearish, with weak rebounds and heavy selling pressure above. The main strategy is to short at highs, as this afternoon we went down and hit the stop-loss level of the long position at 2597. Tonight, it is possible to repeat last night's trading method, reaching around 2710. However, since tonight is Thursday and tomorrow is Friday, the news is unpredictable. In the face of news, any candlestick pattern is just a paper tiger.
Recommendations: Support levels at 2600 and 2580, break below is bearish, long position stop-loss.
Resistance levels at 2630 and 2655, suitable for shorting on pullback. If it breaks through, it’s highly likely to reach 2710, and if you have short positions, you should exit and not get caught in a deep abyss if it rises to 2800 tomorrow, which could torment you for several months until you lose your hair.