$ETH
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🧑🍳😭🔍
Brothers, let's talk about the situation with ETH
Today the daily line of ETH broke 3500 and closed ⚠️
I don’t know why I always dislike ETH
The bearish divergence on the daily chart has been confirmed
Even the ETH/BTC trend is the same, hitting the resistance area
Signals are synchronously appearing…
Why didn’t I short at 3900 with knowledge and action in harmony
I will reflect on this deeply
My current view is
In the next few weeks, there is a high probability of waiting for a better position than now
Good hunters usually spend most of their time waiting ⌛️
It might also spike up before coming down
But if it spikes up, we need to see the daily line oversold condition being digested
Key support levels to focus on:
3222-3300 dollars is just a swing position, but we also need to consider BTC's situation, in a few cases it doesn’t listen to the big brother, but most of the time it still listens to BTC, additionally, if US stocks pull back, it’s possible to test the area around 2800 again, this is the position where I went long from 2150 to take profit at 3000, so I also missed the segment from 3000 to 3900, which is why I often say patience, you wait for her in place, if it's worth it, she will come back to find you….
Currently, the open interest in ETH is still increasing.
Along with the inflow of ETFs decreasing, there will definitely be large fluctuations
There are short-term opportunities, but short-term trading is for experts, I am not capable of that 🙂↔️
I need a large risk-reward ratio and to enter at a mid-term swing
Still need to wait for a drop to a good structural position
Then consider entering when paired with the daily line being oversold
Mainly, BTC must be taken into account
It hasn't tested the position of 112 yet
Right now, it is highly likely to return to the support level of 112 again, which is a key support level, if it breaks below there’s only the 100,000 threshold, the ETH exchange rate has already weakened, it seems it still hasn’t broken through the position of 4000 that trapped the whole world… the past 6 times have all failed….
