Hello everyone, I am your Wuxian. It has been a long time since I greeted you in this way, and I wonder if there are still any old fans who can evoke some memories.
Back to the topic, the point around 124 that we recommended some time ago has become a reversal line, which can basically be said to be a small cycle bottom, at this position. So currently, if we want to open a position, how should we proceed? First, we can see that it took more than a month for the price to drop from the highest point of 187 to the lowest point of 124, a difference of about 60 points. Our chart shows nearly two months of market trends. So let's try to think about what the big players are trying to do. Are they trying to create panic after selling at a high position, so that many people will throw in their hands and acquire lower-priced chips, thus extending their reach into the market? Of course, they need to keep Bitcoin above 100,000, so that even if there are some small declines elsewhere, many people will not pay too much attention. Therefore, I have always been optimistic that Ethereum will have a chance to rebound. Currently, the upper band of the Bollinger Bands on the 4-hour chart is very close to our current market price, which indicates a small pullback. If we are trading contracts, we can take a position above 140, but compared to not rising, I am more optimistic about a second pullback. Because this time, the 125 level is very easy to guess and layout. We can reflect on the fact that in previous years, it was impossible to bottom out with spot purchases at each lowest point. Therefore, this wave will at least pull back to around 160, and then create a lower low than 125, possibly even close to 100. After creating panic, it will be time to rebound, or there may be a sudden pullback during the rebound that traps a batch of people, who will be stuck for at least a month. Note, summary of views ❗❗❗ In summary, the viewpoint is very clear; I am more optimistic about a second pullback, but currently, this height does not meet the conditions for a pullback.
So if we think about trading mid-term contracts, we should go long around 138-142, targeting near 160. Regarding the position size, plan according to your situation. The post about stop-loss has been pinned, and family members who are not very good at adjusting proportions can refer to the pinned stop-loss post.
Additionally, I don't know if everyone likes to see those first-person in-depth analyses and thoughts. If there are more than 20 comments and over 30 likes, I will write about Ethereum a bit later.$SOL 