Must go short! Ethereum's surge at noon was too aggressive, reaching a new high directly. But this kind of 'super strong' rise is like sprinting in a 100-meter dash; after the sprint, there must be a breather (pullback). So, going short now is the only reliable theme.

Entry position: Don't chase highs! Wait for it to pull back to around 4640 to 4670, then enter short directly! This area was a significant resistance level before, just broke through, and now is likely to become a resistance level (where rebounds can't go up), making it a good entry point for shorts.

Where is the target looking?

First target: 4530-4480 area. This is a relatively close and realistic support level, likely to be reached.

Dare to think: 4300! If market sentiment cooperates (like Bitcoin also retracing), or if there are negative news, dropping back to 4300 is not completely impossible! This belongs to the 'dreams should still be there' level.

For example (case): Think about the wave at the beginning of January this year, ETH also surged crazily to over 4200, and what happened? It couldn't stay stable for a few days before it plummeted to 3800! History may not repeat itself, but the rhythm is similar. The profit-taking and technical corrections after new highs are the norm in the market.

The most important point: Have good insurance! Old Zhu emphasizes again: when shorting, must have a stop-loss! It is recommended to set it just above 4700 (like 4705-4720). Why? In case the market sentiment suddenly becomes enthusiastic again, and the price hits your stop-loss before falling, you would only incur a small loss for being wrong. No stop-loss? You might end up losing everything!

To summarize Old Zhu's strategy:

Direction: Short! Must go short!

Position: Enter short around 4640-4670.

Target: First look at 4530-4480; dream of seeing 4300.

Risk control: Must have stop-loss! Set above 4700 (like 4705-4720).

Profits come from declines, risks come from rises! Don't get carried away in the new high frenzy, stay calm and wait to short for the meat to come! Follow Old Zhu, tonight we will have an in-depth review to see how much profit this short position can yield!

I am Old Zhu from the cryptocurrency circle, my views are sharp and clear, and risk warnings come first! Wishing everyone smooth trading! #ETH走势分析