$ETH Evening Thoughts:
Having discussed the gap of the big cake, let’s talk about the gap of the second cake. The gap above the second cake has already been filled at 3050-3230.
I do not wish for the second cake to fill the gap below; the gap below the second cake is at 2850-2920. Many students who are trapped around 3000 may hope the second cake quickly fills the gap below to help them break free, but you must understand that once the second cake fills the gap at 2850-2920, the current rise of the second cake will be declared over.
The second cake has worked hard to rise, and I do not wish for it to end so soon; I have yet to see the imitation season! I can’t understand why many students opened short positions around 2700 and 2900; which teacher taught you that? Even after breaking 3000, you still don’t know to cut losses and are still holding on? Since you are reluctant to cut your losses, just wait for the little knife to pull back! Is it better to hurt once or to hurt all the time? You should weigh that yourself.
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Let’s talk with the chart: The second cake is no longer strong, what’s going on? It’s because the exchange rate of the second cake has fallen.
The rise and fall of the second cake depend entirely on the exchange rate; the exchange rate of the second cake is equivalent to the blood of the second cake. If the blood does not circulate, it will be blocked or even cut off.
If the hourly level of the second cake is to form an M head, it must break below the 0.02981 neckline for the M head to be established.
The position circled in the left yellow box rose quickly, and the speed of decline will be faster than the speed of rise. Everyone should pay attention to the second cake's exchange rate; once it breaks below 0.02981, the second cake may experience a pullback.
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For the second cake, break through 3570 on volume for long positions; if it drops below 3553 on volume, short positions should be pursued. Pay attention to changes in volume and set stop losses.
If the second cake firmly breaks above 3576 at the hourly level, look up to 3606-3642; it must stand firm at 3600 to continue looking up.
At the 4-hour level, if it drops below 3533, look down to 3505-3475.
Continuing to look at the chart: The Fibonacci 1:1 pullback target position for the second cake at the hourly level is 3410. If it can reach the 1.618 position at 3287, I wouldn’t mind either; the second cake doesn’t need to drop too deep; a pullback to 3287 is just right.
A pullback too deep will affect the bullish trend; a shallow pullback will have little effect. A pullback near 3287 is a very good position; meeting adjourned.