🔴｜ETH Breakthrough Retracement?
After last night's spike, is ETH now a smokescreen continuing to retrace? Or is it heading for a rebound?
To answer this question, we need K-line to help us verify.
Only when ETH stabilizes at the 2530 position on an hourly basis can we say it is stable; if it goes up for a while and then comes down, that does not count as stabilization—it's a false breakout, a trap for the bulls.
Why is the 2530 position significant? This was previous support, which has now turned into resistance.
Only by stabilizing at this position can we say the retracement is over, and it can continue to oscillate upward, where it drops is where it rises.
Conversely, if it does not stabilize, the decline will continue. The battle between bulls and bears is at this point. Those who want to go long can enter with a light position on the right side, and remember to set a stop loss.
