CPI data has been released, and Ethereum is very strong! Are you feeling confused?
In the () circle, in this morning's analysis, I already made your predictions!
Many people think that after the 3-5 waves end, entering a 4-wave correction means that as long as it doesn't enter a 5-wave rise, there definitely won't be a new high. How naive! Look at this segment in the previous chart; isn't it an example?
This morning, it was clearly indicated: [During the adjustment process, Bitcoin and Ethereum will operate within the Bollinger Band channel formed between the upper and lower Bollinger Bands on the 4-hour (or 6-hour) chart. During the adjustment process, new high points cannot be ruled out (this happens often). If a new high is reached, it does not mean a real breakthrough to a 5-wave rise; it needs to be judged by wave patterns.]
Aren't these two segments of Ethereum very similar? $ETH
Shorting Bitcoin $BTC
Trading Ethereum is actually very tiring and not cost-effective! Especially since many people set their stop-loss above the highest point on July 14, there is actually more than a 60% chance of being stopped out and then dropping again! Even many people set their liquidation position at the highest point on July 14, and this situation also has a 60% chance of liquidation!
Any new high points before July 18 are likely false breakouts!
If you only hold spot but don't understand wave patterns and are unsure if it's a real breakout, then please do not be misled by false new highs; do not chase after the price.
