Good morning, friends!!!
Ethereum started a rebound from the low point of 4061 yesterday morning, reaching a maximum of 4240 in the afternoon before retreating. In the evening, the U.S. stock market experienced a rapid pullback due to its influence, dropping to a low of 4104 before rebounding. As of now, it has risen to a maximum of 4375 but is under slight pressure and experiencing a minor pullback correction. The four-hour cycle is still fluctuating within the lower band of the Bollinger Bands. $ETH
After the doji candle, there was a rise with a bullish candle, but the bullish candle has a significant upper shadow, indicating that selling pressure above has not eased;
The bullish rebound has repeatedly encountered resistance at the middle band of the Bollinger Bands, and the previous downward trend has not been recovered, so the rebound is a regular correction.
However, in terms of the current pattern, there is still some room for adjustment below, with a key focus on the choice of stabilization position—whether it will be a strong recovery completing the recovery or a downward trend will be the key observation point moving forward.
The high-level pullback in the small cycle shows weakness. It is suggested to go long in the short term in the morning to see the sustainability of the rebound repair, and then consider whether to lay out a wave long position based on the strength afterward.