🚨8/2 Midday ETH Market Report🚨

🔶 The market in July was relatively easy, and I haven't updated in a month, focusing on leading the E family army for a while. Everyone should have earned quite a bit during the bull run in July, and I believe some friends may feel a bit confused by the recent trends. Now is the time to showcase the value of the E family army; this month we will continue to provide free and easy-to-understand analysis!

🔶 Throughout the first half of $ETH , I have been emphasizing the strategy of low buying, which has generally yielded decent returns. However, I don't know if everyone has kept up timely. So, at the beginning of August, we are seeing a downward trend. As shown in the chart below, the current trend has formed an M-top pattern, and the price has already broken below the M neckline, which is not a good sign. Without extremely positive news, it will be difficult to maintain the previous bullish trend. Today's strategy suggests considering short positions first, then taking profits in batches below, and later going for small positions to bet on low buys. Specific analysis is as follows.

🔶 Since the price has broken below the M top neckline, it is likely to face resistance near the neckline. Therefore, mindlessly buying at this point is not a wise choice. It may be worth considering participating in a short position around 3560 and within the range of 3620, while paying attention to the areas around 3300 and 3050 below.

🔶 As shown in the chart below, there are two possible scenarios for the price: 1. It may stop around 3300 and start to rebound again, or 2. It may directly break below 3300 and test around 3050 before starting to rebound. The market cannot be predicted with absolute certainty. What we can do is to take controlled defensive measures at key positions for speculation, so it depends on how everyone approaches it. After entering short positions near 3560 to 3620, most of the profits can be taken near the first take-profit point around 3300, leaving a small portion to speculate around 3050. Friends looking to buy low can continue to read on.

🔶 The ideal low buy position is near 3050, but friends who are afraid of missing out can also take a small position around 3300 to speculate! The target can continue to look at the breakout situation near the neckline around 3560 and 3620 to decide further!

🔶 That's all for today, straightforward and clear. Everyone should view this rationally; the above content is purely the personal opinion of the E family army and does not constitute any investment advice. Profit and loss are at your own risk ⚠️ (Spread ±5) #美国加征关税