Daily line engulfs the negative, the engulfing pattern is in a rebound correction. Good morning brothers, I am Jiao Lian. From Thursday to Saturday, three consecutive negatives, Sunday saw a bullish engulfing, forming an engulfing pattern, with solid support around 112000. According to Jiao Lian's suggestion, the low position buy has allowed the bear Mu to currently cover 114800, gaining almost 2800 dollars of space. Ethereum around 3450 has also gained about 100 dollars of space. Over the weekend, 114000 was strongly suppressed at one point, and Sunday worked through the night, choosing to break in the morning. The current downward trend line has been broken, continuing Jiao Lian's expectation from Friday, moving into a rebound correction, with the upper limit of the correction around 116000, which is the position to reduce holdings for the low position buy. The rebound height for Ethereum is between 3600-3650, as Ethereum's small car takes a turn, so here it is suggested to reduce holdings according to the range.
During the day, we are considering a bullish strategy; the rebound strength is not strong, and we can still open long positions.
Around 3500, look at 3600, if strong, aim for 3680.
Around 114500, buy, supplement near 114000, look for 116000.
Above 116000 and near 3680, if not broken, we can reverse long.