$ETH Do not insist on the wrong choice because of 'sunk cost'; opportunities in the crypto space are always present. In a bull market, change cars; in a bear market, change tires—different cycles require different strategies. Cutting losses is to stay alive; stubbornly holding on may lead to zero. Setting a stop-loss is not admitting defeat, but ensuring a better entry next time. The most expensive tuition in the crypto space: from 'diamond hands' to 'zero party'. The market for Ethereum remains strong over the weekend; it first retraced to accumulate strength before entering a strong upward trend. After retracing to the 3525 line last night, the bulls have continued to rise, and today maintains a strong performance, climbing steadily, currently refreshing the high point, reaching the 3724 line. The overall trend of Bitcoin is relatively weak; it has spent most of the time in a narrow oscillating cycle, with neither bulls nor bears extending much. After dipping to the 117341 line early this morning, it began to slowly rebound and recover, currently consolidating around 118000. On Saturday, we initially laid out short positions, observing a wave of correction. The short position near Bitcoin 118,300 and Ethereum 3587 yielded 800 points and 57 points, respectively. This morning, we also followed the rebound trend and laid out long positions in Ethereum, suggesting to go long around 3600, and in the afternoon, it rose to around 3710 before suggesting to exit, yielding 110 points.
From the current market perspective, Ethereum has already formed a four-week upward trend, and the body of the candles is quite robust, continuously rising with large bullish candles. Currently, after increasing volume on the short term, the high-level consolidation has not further breached the highs, but there has also been no pullback after reaching new highs. Local corrections and strong performance continue to be maintained. Although the performance remains strong, short-term indicators have entered the area of top divergence, demanding adjustments. With the previous continuous volume increase, the current sideways movement is not high; high volume is likely to lead to a top. After the volume increase at the end, it is best not to chase after the rise. The current pace may also be accompanied by repeated back-and-forth movements at high levels, and the price action may initially explore new highs before pulling back, testing the ability to respond in real-time. Based on the pattern, after a rise, short positions can be coupled with short-term operations.
On Sunday evening, consider shorting around 118500, targeting 117000.
Consider shorting around 3725 for Ethereum, targeting first at 3650.
