Today, I sent out some Ethereum. The perspective is that before Powell's speech, there may be small-scale profit-taking sell orders.
So this effect has already appeared. From what I said this morning until now, ETH has dropped by 4% and has shown relatively low points on the 1-hour line. It just so happens to rebound on the ema120 line.
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At the current position, we don't need to worry about whether it will drop.
Just BTC, as long as it doesn't truly break below 117,000. My script cannot be perfectly realized. All false breakouts cannot be fully bearish.
So relatively, if Ethereum doesn't break below 3,600, it’s all false breakouts and cannot be truly bearish.
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So think back, did it break below and then you could short?
Personally, I don't like to enter trades on breakouts or breakdowns. A breakdown is a signal, but not my entry signal.
Because there are too many false signals in breakouts. In my opinion, so-called breakout entries are nonsense; playing this way has a very low win rate. You can never see through the false moves of the big players.
I would rather watch naked candles touch the top.
Or, seize every pullback buying point in an uptrend, or the rebound selling point in a downtrend.
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So, Ethereum is still a long or short play, just watch this rebound situation, and if there is an entry signal, just enter and that's it.
