$ETH Evening Thoughts:
The second coin has already surpassed the three realms, completely out of the five elements and the rhythm is uncontrollable. However, I still want to remind everyone not to over-fomo, and to view the market rationally. If you miss it, just wait for the next opportunity; don’t feel like there are no chances left just because you missed one.
When everyone is fomo-ing, you must remain especially calm. If you can’t calm down, just slap yourself twice.
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Talking with pictures: I wonder if everyone remembers that I previously mentioned the W-bottom at the weekly level. This time it might actually come true. As long as the second coin can maintain above the neck line marked at 4135 on the weekly chart, the weekly W-bottom will be established, and it’s not impossible to touch the previous high around 4877.
Of course, the second coin won’t keep rising at a 90-degree angle; after all, during the upward process at the weekly level, there will definitely be corrections. As long as the weekly level does not break below 4135, the W-bottom remains valid, this is a big cycle.
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For the second coin, a volume breakout above 4242, aggressive traders should go long on the right side; if it breaks down below 4213 with volume, watch for short opportunities on the right side. Pay attention to changes in volume and set stop losses accordingly.
The second coin breaks through and stabilizes above 4235 looking up at 4304-4392 on the hourly level.
On the 4-hour level, breaking below 4194 looks down at 4135-4084. If 4194 breaks and doesn’t recover, the second coin will start to pull back.
Continuing to look at the chart: The chart drawn on the 2-hour level for the second coin shows a bearish crab pattern. The D-point of the bearish crab pattern at 4250 is the point I previously saw for the second coin’s pullback. If it directly breaks through the D-point at 4250 and consolidates above 4250, the bearish crab pattern becomes invalid, and you cannot short the second coin at this position anymore. If the second coin repeatedly spikes upwards but the closing price does not stay above 4250, you can tentatively try to short one position. It must stabilize, otherwise don’t try easily. Meeting adjourned.