ETH is currently showing this trend, originally in an ascending wedge pattern, which is a bearish signal. The reason for the long position this morning was mainly due to multiple pin bars forming after the first wave of decline, indicating a signal of a stop in the downtrend, and it also rebounded over a hundred points, showing strong performance here. I decisively entered a long position to bet on a breakthrough to make a new high.

However, the last time it touched the small resistance line, it was pushed down, so the attempt to break out here failed and it began to accelerate downwards. As a result, the long positions were stopped out. Initially, it was a small bet for a larger gain, but now it has broken down, and at least there will be a period of spike action. It may also spike and quickly recover, so let’s hold off and observe for now!