$ETH Evening Thoughts:
The gap in the second contract has also appeared, and there are gaps both above and below the second contract. The gaps above the second contract are 3050 and 3230, and the gaps below are 2920-2850. Do you think the second contract will first go up to fill the gap above, or go down to fill the gap below?
My personal subjective view is that the second contract will first go up to fill the gap above. Why? Because as long as the first contract does not show a decline and stays flat at a high level, the second contract will once again experience a rally. Therefore, I believe the second contract will first go to fill the gap above. As for whether the gap at 3230 can be filled in a short time, we will have to wait and see, but filling the gap at 3050 is just a matter of minutes.
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Let's talk through the chart: The bullish flag pattern on the hourly level for the second contract has been broken. If the resistance level marked in the chart at 2979 is also broken, the second contract will take off again.
If it cannot break 2979, the second contract will continue to oscillate and consolidate along the upper boundary of the flag pattern. As long as it does not fall back inside the flag pattern, 2979 will eventually break. If it falls back inside the flag, the second contract will choose a direction again.
For the second contract, buy on the right side after breaking 2959 with volume, and sell on the right side after breaking 2937 with volume. Pay attention to the changes in volume and set stop-losses properly.
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For the hourly level of the second contract, breaking and holding above 2979 looks upward towards 3012-3040-3075. Once it breaks 3012, 3075 will follow.
On the 4-hour level, if it breaks 2916, look downward towards 2880-2841.
Continuing to look at the chart: The Fibonacci 1:1 target position for the second contract at the hourly level is 3030. If it breaks and holds above 3030, the second contract will continue to challenge the 1.618 position at 3109. 3109 is also the position for significant profit-taking on your bottom long positions. Be patient and wait for the fluctuations to come. Meeting adjourned.