ETH History is Always Remarkably Similar

The support at 4160 on the left is the stop-loss for those who fomo'd into buying earlier; once it broke, and there was no recovery, this support turned into the current resistance.

With the left shoulder support at 4160 breaking, the next focus is on the 4-hour Vegas channel. Last time this channel was touched, it retraced from 3940 to 3352, and then it started to rise all the way to 4790.

This is not to say you should go all in with a hundred times leverage; for this 4-hour level layout, if you're worried about missing out, you can start with a small position near 4070, add more around 4000, and set a stop-loss at 3960.

Just like the layout at 3400 back then, no one can perfectly time the bottom; you can only say to position within this range. If you want to capture the thousand-point profit after 3400, your stop-loss needs to withstand the test; otherwise, you are just in a pure gambling mindset.

The RSI is also around 35, not yet in the overbought zone. Don’t rush in just because it rebounds a little; if you can hold back, you’ve already outperformed most people. Once you start trading based on emotions, you’re not far from a margin call.