8-21 Ethereum Analysis:

Yesterday, Ethereum bounced back after testing the support at 4145 I mentioned, showing a bullish engulfing pattern at a smaller scale, leading to a price action for going long, which then rose to around 4375, reaching a level of resistance that had previously blocked it multiple times + the upper edge of the descending channel, and currently it has not successfully broken through.

Today's trading plan: Wait for Ethereum to break through the channel + the resistance level of 4375, and then enter after confirming support on the retracement. This is a right-side approach.

Another option is to wait for Ethereum to continue retracing and ideally hold around 4070, preferably showing a bullish divergence signal; this could potentially create a W bottom structure.

Alternatively (as shown in the second image), if it is blocked during the retracement, it does not drop deeply, failing to create a new low but instead retracing to the Fibonacci 0.618 level (4180), forming the right shoulder of a head and shoulders bottom. If the lows continue to rise, there is also hope for further increases challenging 4375#ETH .