Brothers, Old Zhao is here! This ETH trend these days is really 'unrecognizable'! From 3800, it fell all the way down, hitting a low of 3350, the bears directly rubbed the bulls on the ground, that intensity made me itch! What technical support, what psychological barrier, all are like paper in front of the sickle, crashing down, overturning everything! I believe many brothers' underwear is about to wear out, right?
But! But! But! Important things are said three times! Yesterday at 3350, it finally hit the brakes! This position is quite interesting, it hasn't made a new low, so it has temporarily stabilized, and today it also gave a little rebound sunshine, allowing everyone to catch their breath.
But! Don't celebrate too early! Brothers! Stay alert!
Old Zhao's personal opinion:
It's still too early to talk about a full counterattack! Don't listen to those shouting about a rapid return of the bulls. The sentiment has warmed up a bit, but how long can this last? Who knows!
The most important thing today is to watch one place: 3580! Remember this number, engrave it in your mind!
If today, ETH can give a bullish candle, and it's the kind with volume, rushing up to 3580 and holding steady! Brothers, that signal would be different! This indicates that the bulls have some real skills, and the true counterattack might just be signaled! There could really be a decent market coming, and the opportunity to profit is here!
Conversely, if Mo Mo Ji Ji gets scared as soon as it approaches 3580, or rushes up but can't hold on and falls back down, and the trading volume is weak? Then Old Zhao has to say this: Be careful! This rebound is likely a 'trap'! If we're not careful, the bears might start a new round of performance! 3350 or even lower, we might have to test the bottom again.
Old Zhao's practical advice time: How to handle this market?
Brothers, just watching the excitement isn't enough, Old Zhao will give you two practical tips:
Breakthrough retest method (suitable for those who are bolder and quicker): Just keep your eyes on 3580! If it really breaks through with volume and holds, don't chase the high! Wait for it to slightly retest to confirm support (which might be at some point between 3550-3580), and confirm that it has stabilized before jumping in. This is a classic breakthrough confirmation strategy, with relatively controllable risk and decent odds. But! The premise is a true breakthrough + with volume! A false breakthrough is just catching flying knives!
Support ambush method (suitable for those who want to play it safer and look to buy the dip): Since 3350 has temporarily held up this time, it proves there's still buying interest in this area. So you can consider setting ambush orders in the area close to 3350-3400 (but not too low), in batches, with small positions. Bet on it for a second retest that holds before bouncing back. Key point: Be sure to set a stop-loss! For example, set it below 3300 or 3250, if it breaks, run decisively, it means the support has failed!
To summarize in one sentence for my brothers:
ETH's brake light is on, but the gas pedal hasn't been pressed to the floor yet! 3580 is a battleground between bulls and bears, the threshold of 'heaven or hell'! Want to seize a big opportunity? Pay attention to Old Zhao, hold tight! I will give you the clearest and most grounded interpretation and strategy at the first moment! Absolutely no ambiguity! Absolutely no hindsight!
