$ETH Evening Thoughts:
Let's talk about the chart: In the second pie chart, as long as this yellow bullish trend line is not broken, the second pie will continue to slowly rise around this trend line.
With increased volume breaking through the resistance level of 3516, look at the three positions indicated by the left white arrows: High One, High Two, and High Three. The script is good, but whether it can follow this plot is uncertain.
If this yellow bullish trend line is broken, it will return to around 3462-3369 for consolidation before choosing a direction again.
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The second pie breaks through 3473 on the right side with volume to chase long, and if 3463 breaks down with volume and cannot recover, chase short on the right side, and manage your stop loss well.
The second pie's hourly level breaks and holds above 3516 looking upwards at 3583-3613; only by holding above 3516 can it continue to sprint upwards.
On the 4-hour level, if 3427 is broken down, look down at 3364-3315; if 3427 breaks, the second pie will cool down again.
Continuing to look at the chart: the second pie's hourly level Fibonacci high and low points pulled from the highest to the lowest has dropped nearly 600 dollars; it should bounce back a bit. If it keeps falling without any bounce, who would still want to play? There are no bulls left; can the bears have fun alone? At the very least, a bounce to the 38.2 and 50 levels of Fibonacci is acceptable; otherwise, if it keeps falling, no one dares to enter. If it can bounce to the 38.2 or 50 levels, those who are trapped in the second pie can also leave.
If you can break even, leave first instead of thinking about making a profit after breaking even. Think about the feeling of being trapped; don’t be greedy looking at what’s in the bowl while watching what’s in the pot; in the end, you won’t get anything. Meeting adjourned.