$ETH Thoughts:
The second token (二饼) is still very strong, but I hope it can remain strong and not weaken at a critical moment, as it would lead to a poor experience and you would receive negative reviews. As long as the first token (大饼) does not continue to decline, the second token will not drop significantly, just following it appropriately.
🤨
Speaking with the chart: For the second token at the hourly level to form an 'M' head pattern, it must break below the neckline marked in the chart at 2434; only then can the hourly 'M' head pattern be established. If it does not break below 2434, the hourly 'M' head pattern cannot be established. I hope everyone does not go long or short from the current position, as it is currently in a very awkward position, neither up nor down. Going long or short from this position is akin to blind guessing.
Either wait for the second token to break the neckline and then short from the right side, or wait for it to reach a high point and then go long.
🤨
If the second token breaks out with volume above 2460, go long from the right side; if it breaks down with volume below 2445, go short from the right side. Pay attention to changes in trading volume and ensure to set stop losses.
At the hourly level, if the second token stabilizes above 2469, look up towards 2500-2521; as long as it stabilizes above 2469, the second token will begin to rebound at the hourly level.
At the 4-hour level, if it breaks below 2432, look down towards 2406-2377; if it breaks below 2406 and cannot recover, this wave of the second token's rise will end.
Continuing with the chart: Why is the second token so strong? Because it is currently above the 4-hour EMA50 moving average, which serves as a support level, so for now, it won't drop.
Once it breaks below the EMA50 moving average, the second token will be set free to fall; looking at the area marked by the yellow box on the left, this is a vacuum zone where it rises quickly and falls even quicker, potentially dropping to around 2300 in one go.
Tonight at 10 PM, there will be manufacturing data released; any favorable or unfavorable news could cause significant fluctuations in the market, so everyone should be aware of the risks, meeting adjourned.