$ETH Evening Thoughts:
The recent rise of the second currency is purely driven up by the first currency, and the second currency rises very reluctantly.
It can't even hold above 2600; a slight poke, and it immediately drops back down.
If the Federal Reserve lowers interest rates in September, and the second currency can't touch its previous high or create a new high, it will be eliminated in the next round. Anyway, I am very disappointed with the second currency this round, even accompanied by a bit of despair.
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Talking with charts: The high and low points of the second currency on the hourly level are all decreasing. If you want to go long, you can only do ultra-short-term trades, absolutely no positioning, unless the second currency shows a new high and breaks through 2605, then you can consider positioning; otherwise, don't position, or a flash in the pan will leave you with nothing.
The second currency should break through 2555 with volume for a short-term long, and if it breaks down below 2532 with volume, consider shorting. Pay attention to changes in volume, and manage your stop-loss well.
The second currency should first break through 2564 on the hourly level before looking upwards at 2602-2635. It seems that the second currency is struggling and finding it hard to go up.
On the 4-hour level, if it breaks below 2525, look down at 2484-2437. If 2525 breaks, there's no way to go back up; it will just go down.
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Continuing to look at the charts: The second currency's hourly level trumpet pattern only had a false breakout yesterday; it did not stabilize above the upper boundary of the trumpet pattern. Without stabilization, it cannot continue upwards, and the second upward attempt did not even touch the upper boundary of the trumpet pattern, indicating that the second currency is starting to weaken.
The second currency just retraced to 2526, this neckline level, gained support, and began to rebound. If the rebound does not produce a higher high and retraces to the neckline level of 2526 again, it will break down. It will need to test the lower boundary of the trumpet pattern to find more effective support. The script has been written; patience is required as it is currently unfolding according to the storyline. Meeting adjourned.