From the weekly and daily charts of ETH, the following points can be concluded:

1. After a rapid rise, a bullish candlestick was formed on August 11, directly breaking through the weekly resistance level and successfully stabilizing.

2. After a bearish signal appeared on the daily chart, the market experienced a decline, but the long lower shadows of the two bearish candlesticks indicate that the support below is strong, as the break below the previous low was not significant.

3. The bearish candlestick formed on August 4 in the previous two weeks did not break the trend line, and the selling volume has significantly decreased, fully validating that the $3300 trend line is as solid as a rock.

4. The market rose from $1385 all the way to $4788, with bulls continuously increasing their volume and prices consistently breaking previous highs. Currently, there is a short-term pullback, and bears are also making a strong counterattack, but the price did not drop significantly, indicating that the bearish momentum has weakened.

From the above points, it is not difficult to see that although ETH seems unable to rise at the moment, detailed analysis of candlestick volume and patterns reveals some insights.

This is also the most genuine intention of the market; one should not mix in too many personal opinions.

Most people tend to rely on their feelings and assumptions to predict future market movements, which is a common mistake made by retail investors.

This is why I always emphasize that everyone needs to learn the core of technical analysis. Among the many techniques I have encountered, naked candlestick analysis is what I believe is most suitable for beginners to learn.

It is simple, concise, and aesthetically pleasing, requiring no indicators and certainly not needing to draw too many various parameter lines.

The clouds have not yet arrived, since the height of summer.

Confusion reigns, but the autumn wind will eventually blow gently.