$ETH Evening Thoughts:
The big cake hit 110,000, and the second cake has also reached 2,600. My suggestion is for everyone holding low-position long positions to appropriately reduce some of their positions, reducing by 50%, or take out the cost and keep the profit to continue running. Never think that once you open a long position, you can just hold it until it hits 3,000-5,000. When faced with resistance, you should reduce your position; otherwise, if there’s a pullback, most of your profits will be lost, and you will regret it.
If you keep a base position and it continues to rise, you keep earning. In the event of a pullback, you won’t incur losses, because you have already reduced your position. Listen to advice and stay well-fed.
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Speaking through the chart: The second cake is currently in an expanding trumpet pattern on the hourly level, with the upper boundary of the trumpet being the current resistance for the second cake.
If it cannot break through the upper boundary of the trumpet pattern, it will continue to operate within this trumpet pattern. It will only take off again when it breaks through the upper boundary of the trumpet pattern.
In the trumpet pattern, I have marked a neckline; if it pulls back and does not break this neckline, the second cake will not drop. It will continue to oscillate around the upper boundary of the trumpet and this neckline.
Only when it breaks below this neckline will the second cake test the lower boundary of the trumpet pattern.
Moreover, the lower boundary of the trumpet pattern is a position worth betting on for long positions around 2,386; if it breaks below, stop loss. Draw it out on your chart, as prices will change over time.
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For the second cake, if it breaks 2,601 with volume, chase the long position on the right side; if it breaks 2,581 with volume, chase the short position on the right side to catch the pullback. Pay attention to the changes in volume and set a good stop loss.
If the second cake stabilizes above 2,608 on the hourly level, look up to 2,660-2,700; as long as it can stabilize above 2,608, it will quickly go to 2,660.
If it breaks below 2,558 on the 4-hour level, look down to 2,523-2,500.
Continuing to look at the chart: In the hourly level of the second cake, the two needles indicated by the yellow arrows seem to suggest that the second cake is on a double needle peak route, which is a dangerous signal. To break the double needle peak, it needs to surpass these two needles; the danger is naturally present, and if it cannot break through, the risk remains.
Tonight at 8:30, non-farm data and unemployment rates will be announced. For more conservative individuals, I suggest not opening positions one hour before and one hour after the data is released. Wait for the U.S. stock market to open before looking for opportunities; otherwise, you may easily hit your stop loss. For those who enjoy excitement, just pretend I didn’t say anything. Meeting adjourned.