$ETH Evening Thoughts:
Dear students, do not underestimate the second pie; it can be very deceptive. Remember what Zhang Wuji's mother told him: the more beautiful the woman, the more deceptive she can be.
This saying applies perfectly to the second pie.
Moreover, although the MACD fast line of the second pie is above the zero line on the daily chart, the slow line is still underwater, and it can pull down the fast line at any time.
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Speaking through the chart: The second pie is currently forming a wedge pattern on the hourly chart. If it can break through the neckline marked in the chart at 2522, there is a chance for the second pie to reach the upper boundary of the wedge pattern. The position of 2522 is the dividing line between bullish and bearish for the second pie; if it breaks through, it can continue to rise.
If it cannot break through, it will continue to sway within the wedge pattern. If the wedge pattern is broken down, the second pie will initiate a secondary downward trend.
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For the second pie, chase long positions on the right side if it breaks through 2522 with volume; if it breaks down to 2510 with volume, chase short positions on the right side. Pay attention to changes in volume and set appropriate stop losses.
If the second pie can stabilize above 2522 on the hourly chart, look upwards to 2560-2601.
On the 4-hour chart, if it breaks below 2477, watch for target positions below at 2437-2407. If 2437 breaks and cannot recover, the second pie will be useless.
Continuing with the chart: The second pie has formed a rounded top plus a cup handle pattern on the hourly chart. If it cannot break the upper boundary of the cup handle pattern, the second pie will not start to rise. This cup handle pattern, when isolated, is a bearish flag because the opening is upward.
Conversely, if the opening is downward, it is a bullish flag. Remember, this is fundamental knowledge; be patient and wait for the market to show direction! If you are really anxious, just take a brick and slap it; it's very effective and worth a try. Don't ask me how I know this. Meeting adjourned.