ETH broke out of the bottom triangle and continued to break upwards, maintaining a relatively strong bullish rhythm throughout, which is generally in line with expectations.
Finally, after standing above 2630, the small-scale closing showed a bearish engulfing pattern, and began to plummet rapidly with the overall market, with a large volume of decline and deeper drops.
In the morning rebound after the US stock market, we can see a significant bullish force entering and a large number of shorts being closed. However, during the day, it still followed the major market and continued to decline. The current position is testing the morning low, with a small-scale rebound expected, not recommended to chase shorts.
Several positions that need attention
Support position
First position 2500-2520
Second position 2460-2480
Third position 2380-2400
Resistance position
First position 2602
Second position 2620-2630
Third position 2660
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