Ethereum now has a bunch of "yellow lights" lighting up on the 4-hour chart! The alarm has been sounded!
Three critical pressures are all piling up together:
Technical indicators overbought: The rise has been a bit too strong, it should take a breather.
200 moving average overhead: This long-term moving average is like a wall, not so easy to get over.
Pattern resistance level: Looking at the chart, when the price reaches this area, it has often been pushed back historically.
My iron rule: Until the price truly breaks through and stands firm, treat it as if it has "not broken through"! Whether it's holding coins in spot or going long on contracts, the two things to do now are:
Quickly take profits in batches! Don't be greedy; what's in your mouth is the meat.
Raise my stop-loss line! Protect profits, lock in risks, and don't let the cooked duck fly away!
As for shorting? What’s the rush! Jumping in to short now is looking for death! Keep your eyes wide open on the 5-minute small cycle chart—when you see its pattern deteriorating and unable to hold, then consider making a move! Don't give away heads early!
I am Xinbi, follow me, supported by a top-notch team, only serving ambitious madmen.
