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🚨8/4 Midday ETH Market Report🚨

🔶$ETH Weekend article reminds everyone that if the price breaks below the M neckline, it should be treated with a short position. Yesterday, after hitting a low around 3350, the price began to rebound, and I've also timely reminded everyone that the price entered a turning point early, indicating a rebound to test the upper neckline range, which seems to have been validated. So, how should we operate today? Let's continue to look down.

🔶 From the market perspective, the morning rebound reached the 3575 level and began to pull back, just hitting the range area marked in the chart below for resistance. The upper cloud chart baseline near 3615 is a point of resistance, as well as the bottom of the cloud near 3720. Short sellers can pay attention to these positions to participate. Of course, the current price near 3550 can also be a point to enter a short position directly. Keep an eye on the lower levels around 3370, 3300, and 3040 as the batch profit-taking targets for this round. Long position traders can pay attention to the short position profit-taking points to observe the support situation and choose the right time to enter long positions.

🔶 The market is ever-changing, and market trends are not 100% certain. Don’t try to catch every market move; what we can do is simplify our trading as much as possible. When key positions appear on the chart, decisively take action with a controllable defense to gamble once. If the direction is right, combine it with a trailing stop for a long hold. If the direction is wrong, promptly acknowledge the mistake, exit with a timely stop loss, and patiently wait for the market to give another trading signal to gamble once again. That's all! Wishing everyone successful trading!

#加密市场反弹