In the last two trading days, the volatility during the US market session has been particularly intense. It seems that the weak performance of US data the night before ignited bearish market sentiment. Today is Saturday and the US stock market is closed, so it is likely that the market will rebound and recover, with little chance of breaking below the overnight low. If it retraces to around 4400, it would be a good opportunity to enter a long position. $ETH