Yesterday, the upward trend of ETH at the daily level has lost momentum. As long as this consolidation range on the 4-hour chart is completed, I am almost 100% sure that there will be a major problem, and then we will start a real downturn.
Last night's surge was a trap: Last night ETH surged again, but was immediately crushed down. The intensity of this sell-off was very strong, breaking through the levels that initiated the upward trend last night. And this downward trend is not over yet.
There might be a small rebound, but don't expect too much: Looking at the 4-hour chart now, this recent decline is sharper than the previous ones. Based on this situation, I judge that there may be another rebound later. But this rebound will definitely not surpass last night's high point!
Key to watch for the end of the rebound:
If the rebound dares to break 2879: Then once it finishes rising and loses momentum, I will definitely short without hesitation!
If it doesn't even touch 2879: Then I will also short directly when the rebound ends and it starts to turn down. Then I will closely watch whether this subsequent decline can break through the low created today.
Next steps:
Just keep a close eye on the 30-minute chart! After this wave goes down a bit more, focus on the strength of the rebound. The strength of the rebound determines when and where we will take action to short.
If you want to make money, don't be a lone warrior! Follow me, comment to tell me your views, and let's seize the profit opportunities of the bull market together.
Today's focus: UNI ETH HOME A
