The market for picking up money is here! Is the uptrend line at $ETH about to break?
Ethereum has bounced twice around 4450 on the 8-hour chart, and the buying strength at this price level is still quite strong. That light blue uptrend line started from 3600, and the two dips just happen to be at the bottom of the trend line; currently, the support for the rise is very weak.
Although it is still early to say we have entered a correction cycle, the two dips to 4450 indicate that the main funds are pushing the price down. If 4450 is effectively broken, then the correction will basically be confirmed, but how much it will drop depends on the determination of the bulls to buy the dip; the previous spike was also pulled up after the bears conceded defeat.
For those looking to gamble on a rebound with a short position, it is recommended to enter close to the 4450 level, but be sure not to set the stop loss in the 4440-4420 range! This area is where most people set their stop losses and is likely to be swept away by the market makers.
Additionally, note that a major correction usually first plummets to a low liquidity zone before rising to the next high point to catch those trying to buy the dip, and only then does it continue to fall. Therefore, those shorting may easily get stopped out at the next high point, which is currently predicted to be just above 4600.
Some are getting liquidated, and some are trembling; if you are always uncertain, you can follow the steps of Sister Shisan. The winning streak of the team continues, and for those who want to follow the Shen Dan strategy and learn the methods, Sister Shisan is here waiting for you.
