$ETH Evening Thoughts:
Speaking through the chart: In the hourly chart of the second contract, the triangle drawn was broken, and the second contract continued to rise, looking up at the position of 4756. If it cannot break through, it will converge to the end of the triangle and then choose a direction.
The second contract is flying without any hesitation; those who shorted the second contract should be done for, right? They have all become fuel, thank you for providing the upward momentum for the second contract, just like those who plagiarized my articles and stole my images have also disappeared, right? At least you're gone from the square; we can't control what happens elsewhere.
Without logical thinking, just copying and pasting, you find it hard to achieve great things. It's not that I look down on you; I simply don’t regard you at all.
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For the second contract, break through 4714 with volume and pursue longs lightly on the right side; if it breaks down below 4642 with volume, pursue shorts lightly on the right side. Pay attention to changes in volume, set good stop losses, and whether long or short, operate with light positions, not heavy ones.
For the second contract, once it stabilizes above 4701, look up at 4756-4787-4813. I believe 4800 will come soon.
If it breaks down below 4616 on the 4-hour chart, look down at 4557-4501. It feels like the second contract is having a harder time pulling back than rising right now.
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Continuing to look at the chart: As long as the second contract stabilizes above the neck line marked in the chart at 4123 this week, the W bottom on the weekly chart will be established. The previous high of 4877 is no longer a dream.
Following the current upward rhythm of the second contract, touching Fibonacci's 1.618 at 5019 seems to be no big deal. However, everyone should pay attention to one point: once the second contract approaches the previous high, most people who bought around 1800-2000 will definitely choose to take profit on more than half. If you don’t take profit on half near the previous high, there’s a problem with your thinking. No one can guarantee that the second contract will definitely surpass the previous high and create a new high. If it were me, I would definitely choose to take profit on half near the previous high and leave half to continue the game.
I won’t think that because the second contract has been rising sharply recently, it can reach 10,000 or even 8,000. First, put the profits in your pocket, and the rest can be gambled; I think that would be safer. The second contract will definitely have a pullback from the previous high to the 5000 round number, because the 5000 round number is the psychological resistance for retail investors, and it’s not so easy to break through. Remember to take profits! Meeting adjourned.