Based on the Fibonacci sequence in the 15-minute chart, every time Ethereum goes through a range, there is a small pullback. After breaking through again, it is advisable to go long after a short-term pullback. This time, after breaking a new high, it did not surge towards 3700. The position I indicated at 3657 is its important support level. If it does not hold, it will continue to consolidate below 3600.
At the same time, this indicates that the recent breakout is a false breakout. There are many short positions accumulated above 3700 that are subject to forced liquidation. This doesn't mean that being bearish is wrong. Ethereum has had eight consecutive days of gains without any pullback, which is also a point of suspicion for many.
According to Cool Boss's experience, stand firm at 3657 before making further plans. There's no rush to open positions; the data will provide you with direction#ETH突破3600
