First, let's state the conclusion:

① If it breaks below the 116900 level, look for the 116000 level. Will it break below the 116900 level today? Yes. It was clearly stated in yesterday's brief that as long as the price effectively breaks below the 117900 level, then it is very likely that the price will turn bearish. The 117900 level is also the defensive position for the bulls.

② Is it time to set up short positions for a rebound? Yes. Theoretically speaking, the rebound has already occurred today and is likely complete. Even if there is another rebound now, it would only be a small one. Moreover, the signal for setting up short positions is clearer. The reference range for resistance is the upper pressure zone, [117950-118150]. If today’s movement is a false breakdown, then the price needs to break through and stabilize above the 118150 level to qualify for further upward movement. Otherwise, it will be a decline.

③ Is it true that this round does not have a stop-loss stabilization, thus failing to achieve another rise? From the current perspective, it seems so. I have a very bad feeling about this. The rebound that started on the 25th may still just be part of a declining continuation process, merely a rebound. #以太坊十周年 #美联储利率决议 #稳定币热潮